Swiss National Bank Cuts Rate Against Global Trend As Inflation Drops Below 2%

• Swiss National Bank (SNB) cut its benchmark interest rate by 0.25% to 1.5%, bucking global trend of other central banks keeping rates high • SNB cited Switzerland's inflation falling back below 2% as reason for rate cut • Rate cut drove down Swiss bond yields and value of Swiss Franc against Euro and US dollar • US Federal Reserve and European Central Bank expected to start lowering rates later this year • Some analysts believe macro factors like banking failures and strained liquidity more important for Bitcoin price than rate cuts