The Swiss National Bank made a surprise interest rate cut on Thursday and became the first major central bank to ease the policy in the current cycle as the fight against inflation over the last two and a half years has been effective.
The SNB unexpectedly lowered the policy rate by 25 basis points to 1.5 percent. Markets had expected the bank to keep the rate unchanged. The central bank said it remains willing to be active in the foreign exchange market as necessary.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.