Swiss Banking Outlook

In its Swiss Banking Outlook, the SBA outlines the expected trends in selected macroeconomic and financial market indicators and discusses topics with relevance for Swiss banking. The publication is based on the results of a survey of recognised financial market experts from SBA member institutions.

The experts surveyed believe that economic growth will remain modest, predicting a real growth rate of 1.2% and inflation of 1.3% for this year. The majority expect the Swiss National Bank (SNB) to cut its policy rate further to 1.0%. The industry outlook for 2025 is a little more positive, with economic growth and inflation still moderate at 1.5% and 1.1% respectively. The experts are expecting hardly any changes to the interest rate envi­ron­ment next year, meaning that the SNB policy rate should hold firm at 1.0%, although they are not ruling out another cut.