Regulatory Alerts2025-12-11
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Monetary policy assessment of 11 December 2025
The Swiss National Bank maintains its SNB policy rate at 0% while keeping its readiness to intervene in foreign exchange markets. Inflation has declined to 0.0% in November, with the SNB forecasting average annual inflation of 0.2% for 2025 and 0.6% for 2027. Swiss GDP is expected to grow by just under 1.5% in 2025 despite a contraction in the third quarter driven by the pharmaceuticals sector.
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monetary
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