The Swiss National Bank (SNB) cut by 25bps and declared the fight against inflation over.
The irony, of course, in cutting rates now in Europe is that the recession is largely in the rearview mirror.
This chart from today's Early Look by Daryl Jones shows the Zew Economic Index for Europe hitting a two-year high at +33.5 for March, providing definitive evidence the recovery is in full swing.
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