The Swiss National Bank (SNB), which initiated the global trend of monetary easing in March, made its third rate cut on Thursday, lowering its policy rate by 25 basis points to 1%. Switzerland has largely sidestepped the inflation surge seen in much of the developed world, with consumer prices rising by just 1.1% in August, down from 1.3% in July. Inflation has remained within the SNB's target range of 0% to 2% for the last 15 months.The central bank cautioned that further rate cuts "may be necessary in the coming quarters" to prevent inflation from slowing too much. The rising strength of the Swiss franc against both the euro and the U.S. dollar since the SNB’s previous cut in June has cont
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