ECB agreed to go ahead with 50 bps hike after SNB threw lifeline to Credit Suisse – Reuters

Citing three sources familiar with the matter, Reuters reported on Thursday that European Central Bank (ECB) policymakers agreed to go ahead with a 50 basis points increase in key rates after the Swiss National Bank (SNB) "threw a lifeline" to Credit Suisse.

Reuters further noted that the ECB's policy debate was between a 50 basis points hike or leaving rates unchanged. There was no discussion of a 25 bps hike.

Market reaction

EUR/USD gained traction on this headline and was last seen rising 0.45% on the day at 1.0622.