Swiss inflation fell again in December, according to data on Tuesday, fuelling expectations for more interest rate cuts by the Swiss National Bank this year that markets now view as virtually certain.

Tuesday’s number marks the fourth month with inflation below 1%, bringing the average for 2024 as a whole to 1.1%. The SNB anticipates it will slow to just 0.3% in 2025 and 0.8% in 2026. That helps explain why policymakers surprised with a stronger-than-expected half-point rate cut last month, with economists expecting another reduction in March.

Mark Zuckerberg wore a rare Swiss watch worth about $900,000 in a video explaining his company’s decision to end third-party fact checking on its social media platforms in the US. The Meta Platforms Inc.

Meta CEO Mark Zuckerberg has vowed to “restore free expression” across Facebook, Instagram and other social media platforms.