The Swiss National Bank lowered interest rates for the second time this year, prompting a decline in the Swiss franc.

After becoming the first developed country central bank to cut interest rates in March, the Swiss National Bank announced today its monetary policy decision and declared a further 25 basis-point reduction in the benchmark interest rate to 1.25%. It is in line with market expectations.

wallstreetcn03:57 ET

SNB Cuts Rate Again to Aid Economy and Stem Gains in Franc

The Swiss National Bank cut borrowing costs again to loosen constriction on the economy and stem gains in the franc, a move that contrasts with the hesitancy of global peers over easing.

BNN Bloomberg03:55 ET

Swiss National Bank cuts interest rates again in the hope of supporting the economy and curbing the rise of the Swiss franc.

Swiss National Bank has once again cut interest rates to ease economic constraints and suppress the rise of the Swiss franc, in stark contrast to the hesitancy of other central banks around the world to loosen policies. On Thursday, the Swiss National Bank lowered its benchmark interest rate by 25 basis points to 1.25%, which was previously seen as an unpredictable decision by observers. Some investors bet that the bank would cut interest rates, while a slight majority of economists surveyed by Bloomberg expected the central bank to maintain interest rates. In a statement, the Swiss National Bank stated that "potential inflationary pressures have fallen again compared to the previous quarter." After the interest rate decision was announced, the Swiss franc fell, falling by about 0.4% against the euro and the US dollar.

環球市場播報03:49 ET

Swiss Central Bank Cuts Rate for Second Time, Underlining European Divergence

Switzerland's central bank Thursday cut its key interest rate for the second straight meeting, a move that underlined the divergence between European policy makers and their counterparts at the Federal Reserve as their efforts to tame inflation enter what they hope will be the final stretch.

WSJ03:41 ET

Switzerland Trims Key Interest Rate to 1.25% in Second Cut of the Year

The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed among major economies.

CNBC03:37 ET

Swiss France Seen Supported by Safe-Haven Bids Even If SNB Cuts Rates -- Market Talk

The Swiss National Bank could cut interest rates in a decision at 0730 GMT but even this is "unlikely to trigger a sharp reversal of Swiss franc strength" given jitters ahead of upcoming French snap elections, says Lee Hardman, senior currency analyst at MUFG, in a note.

WSJ03:19 ET