Economists have delayed expectations for a Swiss National Bank rate rise; a
monthly survey shows the earliest timing is now judged to be after June next
year. Respondents who had expected borrowing costs to rise this year largely now
see the SNB holding off until 2027, and a majority expect the first hike only in
early 2028. The shift follows reports that SNB staff internally expect the
policy rate to remain at 0% through end‑2027 and rise only thereafter,
conditional on no new major shocks.
