With this value.. the Swiss Central Bank reduces the interest rate

The Swiss central bank cut its main key by an unexpected 50 basis points on Thursday, amid easing inflationary pressures.
This aims to curb the strength of interest, and in the first meeting chaired by Martin Schlegel, the interest rate was reduced to 0.50% from 1%.

Interest rate in Switzerland

The new interest rate will come into effect as of tomorrow, December 13, noting that the bank has reduced the interest rate four times this year.
The markets expected only a quarter-point reduction, while the bank stated that underlying inflationary pressures were declining and that it was monitoring the situation closely.
The bank said it was still ready to be active in the foreign exchange market as necessary, but the bank did not indicate the valuation of the franc.

Inflation in Switzerland

Last July, data from the Swiss Statistics Agency showed that the inflation rate fell to less than 2%.
The statistics agency reported that consumer prices rose by 1.7% last June, compared to 2.2% during the previous month, thanks to the decline in energy prices.
Meanwhile, core inflation, which excludes more volatile commodities such as energy and food, was 1.8% annually.