Swiss National Bank raises interest rates amidst economic uncertainty.

The Swiss National Bank has raised its benchmark interest rate by 50 basis points to 1.5%, the fourth consecutive hike, to counter "the renewed increase in inflationary pressure." The bank has also hinted that further rate hikes may be necessary to ensure price stability over the medium term. Swiss inflation rose to 3.4% in February year-on-year, exceeding analyst expectations. The move comes as the Swiss National Bank agreed to lend Credit Suisse up to 50 billion Swiss francs ($53.68 billion) after the bank's shares plummeted due to a series of scandals and losses.