SNB cuts rates again over global economic 'uncertainty'

ZURICH, Mar 20 (AFP): Switzerland's central bank cut its key interest rate by a quarter per centage point to 0.25 per cent on Thursday, citing "high uncertainty" in the global economy.

The Swiss National Bank made its fifth cut since March last year, saying it anticipated the global economic growth would remain moderate over the coming quarters.

"With today's rate adjustment, the SNB is ensuring that monetary conditions remain appropriate, given the low inflationary pressure and the heightened downside risks to inflation," the central bank said in a statement.