The Swiss National Bank raised its policy rate by 50 basis points on Thursday. It is the third increase this year in terms of curbing inflation. Interest rates in Switzerland are at their highest level since the global financial crisis 14 years ago.
According to a Reuters poll, the 50-basis-point increase was in line with most economists' forecasts.
According to the Central Bank, an additional increase in the SNB discount rate might be necessary. That decision could be taken to ensure price stability in the medium term.
The SNB has already raised rates in June and September this year. Earlier, they had been held at minus 0.75% for seven years, as the bank struggled with the strengthening of the Swiss franc.
The central bank turned its attention to coping with inflation. Although it is low compared to other countries at 3%, it is still outside the target range of 0-2%. Considering Swiss standards, this level is high.