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Economists widely anticipate a rate cut by the Swiss National Bank (SNB) during its upcoming monetary policy assessment, with discussions centered on whether it will be 25 or 50 basis points. The Swiss economy is facing challenges, including low inflation and rising unemployment, prompting calls for a more substantial cut to stimulate growth. Analysts suggest that the SNB's previous communication has set expectations for a reduction, making a 50-basis-point cut necessary to address the current economic landscape.
Günter Stadlberger, after two decades leading Raiffeisen Wels, is set to retire at 65. In a recent interview, he reflects on his tenure and the ongoing economic crisis, notably defending KTM boss Stefan Pierer while criticizing certain aspects of the current federal government.
A Danish woman swindled 1.5 million francs from the Valais Cantonal Bank by changing her identity and selling her apartment to herself, deceiving both a notary and the bank between 2012 and 2014. The court criticized the bank for its lack of diligence, noting it granted the loan despite a lower property valuation and insufficient verification of the woman's falsified documents. The bank has appealed the decision, and the public prosecutor's office is also pursuing the case further.
Canada's farmers harvested 34.96 million tons of wheat in 2024, exceeding expectations and last year's yield. However, the rapeseed harvest fell to 17.85 million tons, 7% lower than 2023, while soybean production rose by 8.4% to 7.57 million tons. Barley production dropped significantly by 11.4%, contrasting with a 27% increase in oat production.
The Swiss economy experienced a modest growth of 0.2% in the third quarter, supported by rising real incomes and private consumption, despite global economic challenges. While the chemicals and pharmaceuticals sectors show resilience, other industries, particularly automotive manufacturing, face export declines due to weak EU demand and a strong franc. The Swiss National Bank is responding to economic risks by considering interest rate cuts to mitigate upward pressure on the currency.
A Russian court has denied Raiffeisen Bank's appeal to unfreeze its shares, maintaining the current restrictions on the bank's assets. This decision adds to the ongoing challenges faced by foreign financial institutions operating in Russia amid heightened tensions.
Raiffeisen economists predict that the Swiss economy will continue to fall short of its potential in 2025, with GDP growth expected at 1.3%, slightly up from 1.1% in 2024. Despite resilient performance in the chemicals and pharmaceuticals sector, global economic challenges, particularly in the eurozone, pose risks to recovery.
Raiffeisen economists project a slight economic recovery for Switzerland in 2025, with GDP growth expected at 1.3%, up from 1.1% this year. However, uncertainties from US trade policy and political instability in Germany and France pose risks, while the chemicals and pharmaceuticals sector shows resilience. Interest rates are anticipated to fall further, potentially approaching zero, impacting financing and the real estate market.
Raiffeisen Switzerland forecasts a slight economic growth of 1.1% for 2024 and 1.3% for 2025, despite uncertainties from U.S. trade policies and political instability in Germany and France impacting demand. The Swiss National Bank is expected to lower interest rates further, with a potential approach to zero or negative rates by 2026.
Raiffeisen Switzerland forecasts a slight economic growth improvement for 2024 and 2025, with GDP expected to rise by 1.1% and 1.3%, respectively. However, uncertainties from U.S. trade policy and political instability in Germany and France may hinder Switzerland's economic potential. Interest rates are anticipated to decline further, with a possible drop to 0.75%, while the real estate market may see renewed interest from institutional investors despite not returning to pre-2020 boom levels.
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