Swiss inflation has fallen to its lowest level in more than three years, government data showed on Thursday, prompting analysts to say more interest rate cuts by the Swiss National Bank were virtually certain.

The larger-than-expected fall in Switzerland’s inflation supports the Swiss National Bank’s recent rate-cutting cycle and the view it will reduce its key rate by at least 25 basis points at its next two meetings,

Swiss inflation weakened to the slowest pace in more than three years, pointing to further monetary easing by the country’s central bank.