Swiss National Bank hikes key interest rate in line with Fed

GENEVA (AP) — The Swiss National Bank has raised its key interest rate. It comes as other central banks in Europe are following the U.S. Federal Reserve’s playbook in a bid to tame inflation. Switzerland’s central bank hiked its policy rate Thursday by half a percentage point, to 1%. The Swiss bank said that while inflation has eased in recent months, consumer prices still accelerated to 3% in November. That’s above its target but much lower than what has been seen in the 19-country euro area, the U.K. or the U.S. It said it couldn’t rule out further moves to make borrowing more expensive.