GDP growth slowed. Inflation stabilizes below 2%. End of key rate hike cycle imminent. Potential weakness of the Swiss franc. Stabilization of yields. Bullish recovery for equities.

Key points

• Swiss economy slows sharply in Q2, with seasonally adjusted real GDP stagnating
• Private consumption and service exports on the rise
• Leading indicators still not very encouraging
• Inflation stabilizes below the SNB’s +2% target
• SNB policy more restrictive than it seems
• Yield differentials unfavorable to the franc
• Stabilizing rates and low capital gains potential
• Renewed uptrend in equities

Discover an extract from our weekly analysis below:

Full version