The Swiss National Bank cut interest rates by 25 basis points to 0.25%.

The main highlights of the bank's statement were:

- Are ready to intervene in the foreign exchange market when necessary.

- The Swiss National Bank is keen to ensure that monetary conditions remain favorable, given the decrease in inflationary pressures and the increasing risks of low inflation.

- The bank will continue to closely monitor the situation and adjust its monetary policy when necessary.

- The development of inflation is in line with expectations.

- The growth of the global economy is expected to remain moderate over the coming quarters.

- The underlying inflationary pressure is expected to continue to gradually recede over the coming quarters.

- The situation may change rapidly and significantly, especially from a commercial and geopolitical perspective.

The most important statements of Schlegel, the head of the Swiss National Bank, were as follows:

- Swiss inflation developed in line with expectations.

- The outlook for Swiss inflation is very uncertain, mainly pointing to bearish risks.

- Inflation is still driven by local services.

- We will monitor the situation and adjust the policies if necessary.

- The scenario of the world economy is subject to high uncertainty.

- Inflation is expected to continue to decline gradually over the coming quarters, especially in Europe.

The focus on global uncertainty is consistent with the orientations of other major central banks as well, as these statements are mainly aimed at strengthening their decision today, and there is currently no intention of zero or negative interest rates.

They still believe that inflation pressures will remain under control throughout the year, with the key interest rate stabilizing at 0.25%.

The annual inflation rate in Switzerland fell to 0.3% according to the latest data, which is the lowest level for almost 4 years.

The French Swiss franc retreated from a four-month high, as the dollar-franc pair rose 0.88 highs.

Although this step was largely expected, as the SNB refrained from committing to a specific policy course, policymakers noted that low borrowing costs are appropriate to ensure that monetary conditions are consistent with reduced inflationary pressures.

Such a move could prevent the franc from overvaluing, as geopolitical risks, stable inflation in Switzerland, and uncertainty about economic policy in the United States are all factors that increase demand for the currency if investors turn to the safe haven.