In a surprising move, Switzerland has become the first major economy to cut interest rates, signaling a shift in its monetary policy stance. This decision by the Swiss National Bank (SNB) positions Switzerland ahead of other central banks, including the European Central Bank (ECB) and the Federal Reserve (Fed), in adjusting interest rates. The SNB's action marks a significant turn almost two years after it initiated a monetary tightening campaign to combat inflation, with the bank now indicating that its efforts against inflation are bearing fruit.