Europe · Business news · Economy · 24 Sept 2026
EU Health Care Industrials Financials
The Swiss National Bank left its policy rate at 0% and said it remains willing to be active in the foreign exchange market as necessary. Swiss inflation rose to 0.8% in August from 0.6% in May, mainly because of higher oil product prices, and the SNB's conditional forecast shows average inflation of 0.7% in 2026 and 0.8% in 2027 and 2028. It expects GDP growth of 1.5%-2% this year and about 1.5% in 2027, flagged risks from the Middle East and trade policy, and said the franc's recent depreciation is supporting the economy.
With the ECB raising rates and the SNB at zero, the rate gap favours the euro over the franc, easing currency headwinds for Swiss exporters that book costs in francs and sell abroad, such as Novartis, Roche, Nestlé, ABB, Schindler and watchmakers Swatch and Richemont. Swiss banks and insurers still earn little on franc balances, while Swiss property companies keep low financing costs.
Reported by Swiss National Bank — “Monetary policy assessment of 24 September 2026” ↗ on 24 Sept 2026.
Official series on 24 Sept 2026 or the last day before it, and the latest observation.
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