Swiss inflation hits lowest level in two and half years
© Reuters. The St. Pierre Cathedral is seen early morning near Lake Leman in Geneva, Switzerland May 27, 2019. REUTERS/Denis Balibouse/File PhotoZURICH -Swiss inflation eased to its lowest level in two-and-a-half years in March, supporting the Swiss National Bank's decision last month to make its first interest rate cut since 2015, official data showed on Thursday.
Switzerland has been shielded from inflation by the strong franc, with imports declining in price by 1.3% during March.The SNB in March cut its key rate to 1.5% and said it expects inflation to remain low over the next few years. "The SNB will look more at the inflation situation in May before deciding what to do with rates in June, because then there will be the impact of increased rents in Switzerland," he said.
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