Reto Cueni, chief economist at Syz Group, said that the SNB kept its interest rate unchanged at 0% as expected and avoided falling below zero. The reason was that low inflation in November and the contraction of the country's economy in the third quarter were temporary. He said in a report that as the Swiss central bank lowered its inflation forecast for the next few months, this confirms that the threshold for cutting interest rates below zero is still very high. Cueni said, “We don't expect interest rates to rise from zero for the first time before the beginning of 2027. “By then, the Swiss economy should have strengthened, particularly driven by the expected recovery in the Eurozone, which is likely to be accompanied by rising inflation,” he said.

Reto Cueni, chief economist at Syz Group, said that the SNB kept its interest rate unchanged at 0% as expected and avoided falling below zero. The reason was that low inflation in November and the contraction of the country's economy in the third quarter were temporary. He said in a report that as the Swiss central bank lowered its inflation forecast for the next few months, this confirms that the threshold for cutting interest rates below zero is still very high. Cueni said, “We don't expect interest rates to rise from zero for the first time before the beginning of 2027. “By then, the Swiss economy should have strengthened, particularly driven by the expected recovery in the Eurozone, which is likely to be accompanied by rising inflation,” he said.