Swiss National Bank

Credit Suisse crisis: Swiss government said it would provide $9 bn to help UBS meet the possible losses while taking over Credit Suisse, and Swiss National Bank will provide $100 bn of liquidity

The Swiss National Bank raised interest rates by 75 basis points to bring borrowing costs above zero for the first time in almost eight years, following recent moves in the euro region

While Swiss National Bank and UK's central bank increased their lending rates, global shares took a dive as investors began dumping shares based on recession fears.

Stocks around the world keep falling amid Swiss and UK's respective central banks' lending rate hikes along with fears that these moves may drive markets into recession.

The Federal Reserve has just delivered its biggest interest rate rise in over a quarter of a century and even the hitherto dovish Swiss National Bank has taken markets by surprise

As Swiss National Banking increased its policy interest rates, the franc took a jump against the US Dollar and Euro, which is a first in almost 15 years, say reports.

SNB's deputy head Fritz Zurbruegg said there remains a continuing robust demand for cash