UBS Stands by Swiss Growth Forecasts Despite New US Tariffs
UBS economists have confirmed their growth forecasts for Switzerland despite new US tariffs. The bank expects the country's gross domestic product (GDP) to grow by 0.7% this year and 1.4% next year, adjusted for sporting events.
The new tariffs are expected to undermine the competitiveness of Swiss exporters in the US market, but UBS economists believe it will not have a significant impact on the Swiss economy.
The bank notes that exports to the US are only a small contributor to Switzerland's economic growth and that the recovery of the European economy is expected to drive growth in 2027.
UBS also expects the Swiss National Bank (SNB) to begin scaling back its monetary stimulus measures from mid-2027 by gradually raising its key interest rate.