On July 4th, Guo Lianhui reported that Switzerland's inflation unexpectedly eased, which reassured Swiss central bank officials. The Swiss Federal Statistical Office said on Thursday that CPI rose 1.3% year-on-year in June. This increase was lower than economists' expectations and lower than the 1.4% increase in May, which was the fastest increase this year. The cost of commodities decreased by 0.2% compared to the same period last year, while the service sector grew by 2.4%, which helped cool the economy. Core inflation also fell to 1.1%. The Swiss National Bank cut interest rates at its last two meetings and launched an easing policy ahead of global peers such as the European Central Bank. Given that Switzerland's benchmark interest rate is currently 1.25%, economists expect another interest rate cut this year, but it is not yet clear whether it will happen in September or December. Policymakers have said that inflation will rise slightly in the third quarter but then slow down and reach 1% by 2026. Swiss National Bank President Jordan said this month that if interest rates are not lowered, the forecast could be even lower.