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SNB CUTS DEPOSIT RATE TO 1.25%, AS EXPECTED

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The Swiss National Bank (SNB) board members decided to cut the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.50% to 1.25%, following its quarterly monetary policy assessment on Thursday. The decision came in line with the market expectations. The SNB announced a surprise 25 bps rate reduction in March to 1.50%, which made it the first major central bank to dial back tighter monetary policy.



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