ING: Swiss Central Bank to Hold Rate Steady at September Meeting

11:47 AM EDT, 09/18/2026 (MT Newswires) -- ING expects the Swiss National Bank (SNBN.SW) to maintain its key rate at 0% at its Sept. 24 monetary policy meeting and over the coming quarters after better-than-expected Swiss economic growth. "The Swiss economy has recently delivered a positive surprise. GDP adjusted for sporting events increased by a particularly strong 1.5% quarter-on-quarter in the second quarter. Importantly, this figure is not annualised, making the expansion all the more remarkable," the research firm said in a Friday note. "The stronger growth performance does not, in our view, represent a significant risk to price stability. The consequences of the global energy shock are visible in Switzerland, but they remain much less severe than in most other developed economies." In terms of gross domestic product growth, ING lifted its forecast to an average of 1.9% in 2026, while an expansion of 1.6% is anticipated in 2027. The research firm also highlighted the Swiss franc's continued strength, which helps keep domestic inflation at a low level. "Underlying inflation remains very low, domestic price pressures are contained and the pass-through from the energy shock remains limited. Overall, there is little to suggest that the SNB needs to change its policy rate," ING added.