The Swiss National Bank (SNB) projected in its quarterly bulletin published on Wednesday that the country's gross domestic product (GDP) will grow by 1% in 2024 after a "moderate" expansion in the fourth quarter and between 1% and 1.5% in 2025.
The SNB noted the global geopolitical uncertainties as the main risk to Switzerland's output. Still, it pointed out that the growth "should pick up somewhat next year" amid the bank loosening its monetary policy as the economic activity is expected to remain mild.
Commenting on inflation, the SNB attributed November's annual rate of 0.7% to declines in both imported and domestic prices, mostly those of oil products and services, respectively. It predicted the figure to stand at around 1.1% in the next six to twelve months and a decrease in short-term inflation expectations.
