Swiss central bank makes surprise cut to key interest rate as others hold steady

Thomas Jordan during a press briefing at the Swiss National Bank in Zurich, Switzerland (Michael Buholzer/Keystone via AP)

The Swiss National Bank (SNB) has said it is trimming its key interest rate, a surprise move that makes Switzerland the first major financial centre to announce a cut in recent months.

Thomas Jordan, the outgoing SNB chairman, credited the central bank’s push to rein in inflation in the wealthy Alpine country.