The Swiss National Bank fired the first shot to cut interest rates

Sina Financial News The Swiss National Bank unexpectedly cut its key interest rate by 25 basis points to 1.5%, months earlier than other major central banks, which is the first rate cut by a G10 monetary central bank since the epidemic subsided. Most economists predict that interest rates in Switzerland will remain high until June. In a statement, policymakers said: "Monetary policy has been eased because the fight against inflation has been effective over the past two and a half years. "Inflation has been back below 2% for a few months and is therefore within what the SNB considers to be price stable. "According to the new projections, inflation is also likely to remain in this range for the next few years. "The SNB’s move signals that the Fed and ECB may be easing later this year. The SNB has long been unafraid to shock investors with surprise actions, and this rate cut could add another chapter to that history.