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The Swiss National Bank (SNB) is expected to cut the key interest rate to 0.25% in March, marking a potential end to further reductions amid declining inflation. Economists predict a shift towards interest rate hikes by 2026, influenced by economic growth and rising inflation, which could lead to increased mortgage costs and marginal rent reductions for tenants.
The Swiss stock market opened lower on Thursday, influenced by a slowdown in consumer price inflation, which rose by 0.8% year-on-year in September. The leading SMI index fell by 0.20%, with 25 of the 30 major stocks declining, while Sandoz, Novartis, and Givaudan were among the few gainers. Analysts anticipate a potential rate cut by the Swiss National Bank in December 2024 due to declining inflation forecasts.
Inflation in Switzerland slowed to 0.8% year-on-year in September, down from 1.1% in August, driven by a significant drop in tariffs for imported goods. The consumer price index fell by 0.3% month-on-month, raising concerns about potential deflation as local product prices rose and housing rents continued to increase. The Swiss National Bank has lowered its key rate to 1% and indicated that further monetary easing may be necessary amid geopolitical tensions and a strong franc.
Brian Mandt
People
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