Switzerland: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Alternate Executive Director for Switzerland

International Monetary Fund

No 2025/263, IMF Staff Country Reports from International Monetary Fund

Abstract: Switzerland remains highly resilient, supported by strong institutions, prudent policies, and a skilled labor force. However, global uncertainty, trade fragmentation, and persistent safe-haven flows have increased economic pressures. After slowing in 2024, growth picked up in early 2025 including due to front-loaded exports, but momentum remains tepid. Inflation has fallen to near zero despite policy easing by the Swiss National Bank (SNB). U.S. tariffs to Swiss goods were raised to 39 percent (excluding, inter alia, pharmaceuticals and gold) in August 2025.

Keywords: FSAP finding; SNB data portal; SNB policy rate; accompanying Financial System Stability Assessment; Financial System Stability Assessment update; debt brake; Inflation; Tariffs; Central bank policy rate; Financial sector stability; Global (search for similar items in EconPapers)
Pages: 76
Date: 2025-09-16
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