Volkswacht Bodensee - Swiss central bank keeps zero-rate as tariffs take their toll

NYSE - LSE

CMSC	-0.29%	24.08	$
SCS	-1.14%	16.68	$
RIO	0.47%	63.87	$
BCC	-1.6%	77.73	$
CMSD	0.12%	24.35	$
JRI	0%	14.04	$
RBGPF	1.49%	76.43	$
RYCEF	0.06%	15.75	$
NGG	-0.3%	71.15	$
VOD	-0.26%	11.33	$
BCE	-0.52%	23.12	$
BP	1.33%	35.21	$
BTI	-1.55%	52.38	$
AZN	-0.81%	75.36	$
RELX	-0.22%	46.37	$
GSK	-0.85%	40.18	$

Swiss central bank keeps zero-rate as tariffs take their toll / Photo: © AFP/File

Swiss central bank keeps zero-rate as tariffs take their toll

ECONOMY 25.09.2025

Switzerland's central bank kept its policy rate at zero percent on Thursday, warning that massive US tariffs are weighing on the country's export-dependent economy.

Text size:

The Swiss National Bank maintained its economic growth forecast at between one and 1.5 percent for this year, but revised it to "just under" one percent for 2026 due to the tariffs and uncertainty.

"The economic outlook for Switzerland has deteriorated due to significantly higher US tariffs," the SNB said in a statement.

"The tariffs are likely to dampen exports and investment especially. Companies in the machinery and watchmaking industries are particularly affected," it added.

US President Donald Trump shocked Switzerland last month when he announced 39 percent duties on imports of goods from the country, among the highest in his global tariff blitz.

Analysts had expected the SNB to keep the rate at zero percent.

C.Bruderer--VB

Volkswacht Bodensee - Swiss central bank keeps zero-rate as tariffs take their toll

Swiss central bank keeps zero-rate as tariffs take their toll

Featured

Stocks downbeat ahead of key US data

Toyota opens high-tech village in Japan to road test the future

Germany must move quicker on reforms, say experts

Dutch lead charge on electric inland vessels