The Swiss National Bank has been successful in its fight against inflation, Chairman Thomas Jordan said on Thursday, allowing the central bank to cut its interest rate by 25 basis points.

"The easing of our monetary policy has been made possible because the fight against inflation over the past two and half years has been effective," said Jordan in a speech.

According to the central bank's forecasts, inflation is also likely to remain in the SNB's 0-2% target range "over the next few years", he added. (Reporting by John Revill, Writing by Rachel More)