Swiss Bankers Predict SNB to Hold Interest Rates Through 2027

Swiss bankers surveyed by the Swiss Bankers Association expect the Swiss National Bank (SNB) to maintain its key interest rate at 0% for the rest of this year and into next year. According to the survey, all respondents anticipate no change in the SNB's policy rate through the end of 2026, with 60% expecting it to remain unchanged in 2027 as well.

The majority of bankers surveyed (60%) believe that the SNB will keep its interest rate at 0% next year. However, some respondents expect a slight increase, with 40% anticipating a hike in rates. Most of these forecasters predict an interest rate of 0.25%, while one respondent expects the central bank to raise its policy rate to 0.5%.

The SNB is set to deliver its next monetary policy update on September 24, with markets pricing in a 97% chance of no change. Market expectations suggest that the first interest rate increase will occur in June, with a 25 basis point rise to 0.25%.