Swiss Economy in 20 Charts

UBS reports that the Swiss economy faces subpar growth of 0.7% in 2026 as Middle East tensions weigh on trade and energy prices. Despite market speculation, the SNB is expected to keep rates at 0% as inflation remains anchored.

Key Takeaways

• 1.The Middle East conflict is the primary headwind for global and Swiss growth, leading to revised 2026 Swiss GDP growth forecasts down to 0.7%.
• 2.The SNB is expected to maintain a stable policy rate at 0% for the next 12 months, diverging from market expectations of rate hikes.
• 3.Swiss inflation is forecast to tick up slightly to 0.6% in 2026 due to higher oil prices, but it remains well within the SNB's target range.

Table of Contents

• Global growth
• Global inflation
• Global monetary policy
• Global interest rates
• PMI Switzerland
• Swiss growth
• Swiss exports
• Exportbarometer
• UBS CFA Indicator
• Swiss inflation and oil prices
• Swiss inflation
• Swiss unemployment
• Swiss national budget
• SNB
• Swiss interest rates
• Swiss swap rates
• EURCHF
• USDCHF
• Swiss equities
• Long-term performance of CHF asset classes

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