The FED hiked the rate by 0.75%

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The Federal Reserve’s decision to raise interest rates by 75 basis points, along with Chair Jerome Powell signaling another big move next month, has intensified the US fight to curb inflation. But the biggest hike in rates since 1994, coupled with signs of an economic slowdown are good conditions that might lead to a U.S recession. This decision will bring a further burden on tech shares, emerging market equities, and JPY as policymakers stick to the accommodative plan.

SNB hiked the rate by 0.5% following the FED decision

The Swiss National Bank unexpectedly increased interest rates for the first time since 2007, responding to a pickup in inflation that officials worry could get out of hand. “It cannot be ruled out that further increases in the SNB policy rate will be necessary for the foreseeable future to stabilize inflation,” the SNB said in a statement. The SNB’s move came just hours after the US Federal Reserve intensified its own fight against rampant inflation with a 75 basis-point hike. The Bank of England is forecast to increase its benchmark rate later on Thursday.