Swiss 10-Year Bond Yields Hit New Lows

2025-10-31 16:56 By Joana Ferreira 1 min. read

The Swiss 10-year government bond yield touched 0.12% at the end of October, its lowest level since March 2022, following dovish comments from the Swiss National Bank and cautious signals from the US Fed.

SNB official Tschudin reiterated on Thursday that the central bank’s monetary policy remains expansive and that inflation is expected to stay within the price-stability range.

She also noted that the SNB is ready to intervene in the currency market if needed and would consider reintroducing negative interest rates should conditions warrant.

Despite interest rates being at their lowest since 2022, inflation has remained below the lower bound of the SNB’s 0–2% target for several months.

In the US, Fed Chair Powell emphasized that a further rate cut at the December meeting is “far from a foregone conclusion.” Similarly, Dallas Federal Reserve President Logan, who will vote on rate decisions in 2026, said the current economic outlook does not call for cutting rates.



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