The Swiss Central Bank cut the Intrerest Rate by 50 basis points on Thursday, the largest rate cut in nearly 10 years, in an attempt to stay ahead of other Central Banks expected to cut rates and to curb the appreciation of the Swiss Franc. The Central Bank of Switzerland lowered its policy Intrerest Rate from 1.0% to 0.5%, the lowest level since November 2022. A Reuters survey showed that over 85% of surveyed economists originally expected a smaller rate cut of 25 basis points, but the market had anticipated a 50 basis point cut.