We use essential cookies and third-party cookies for content.

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

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

ECONOMY 25.09.2025
Swiss central bank keeps zero-rate as tariffs take their toll
Swiss central bank keeps zero-rate as tariffs take their toll / Photo: © AFP/File

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.

Change 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.

F.Harris--TNT

Featured

AI Risks to Enter 60–80% of Liability and Cyber Insurance Underwriting by 2028, ScienceSoft Predicts

ScienceSoft has released proprietary research on how midsize US insurers will address artificial intelligence (AI) risks in coverage and underwriting through 2028. Drawing on insurance market data, perspectives from industry experts, and ScienceSoft’s experience working with insurance organizations, the research examines whether growing AI-related losses will lead to a new class of AI-specific insurance.

ECB lifts borrowing costs amid energy shock, opens door for more hikes

The European Central Bank raised interest rates Thursday for the second time this year as renewed Middle East fighting fans fears of higher inflation, and opened the door for further hikes.

Tribal Launches Campfire, Letting Business and Technical Teams Build on Salesforce Together

Tribal’s Campfire is a shared canvas that lets enterprises build and change their own Salesforce org at the speed of business, with security, permissions and dependencies intact 

Global Tokenized Real Estate Market to Hit up to $3 Trillion by 2030, ScienceSoft Predicts

ScienceSoft has released new proprietary research on the role of tokenization in the real estate investment landscape. Drawing on market statistics, firsthand perspectives from industry experts, and ScienceSoft’s experience delivering technology projects in the niche, the report examines whether tokenized real estate will evolve into a mainstream investment vehicle.

Change text size: