Swiss central bank cuts main interest rate by 1/4 point

GENEVA, Switzerland: The Swiss National Bank (SNB) announced that it had reduced its main policy rate by a quarter of a percentage point, lowering it to 1.25 percent from 1.5 percent, effective June 21.

This decision comes in response to a decline in "underlying inflationary pressure," despite rising costs in areas such as rents, tourism services, and oil products.

This marks the second such cut by the S