Swiss Bond Yield Holds After SNB Decision

2026-09-24 08:50 By Larissa Caser 1 min. read

The yield on the Swiss 10-year government bond held near 0.57%, the highest since the over a year and a half high of 0.613% hit on September 14th, following the Swiss National Bank’s monetary policy decision.

The SNB left its key rate unchanged at 0% at its September meeting, citing elevated uncertainty amid persistent tensions in the Middle East that keeps global oil prices elevated.

Still, Swiss economic growth was stronger than anticipated, supported by a weaker Swiss franc, while medium-term inflationary pressures increased only slightly, pointing to the limited impact from disruptions to the energy supply chain.

Additionally, inflation forecasts were raised slightly to average 0.7% in 2026 and 0.8% in 2027 and 2028, well within the SNB's target, while economic growth is expected to reach between 1.5% and 2% in 2026 and around 1.5% in 2027.

Elsewhere, a rebound in global oil prices led to a bond sell-off as expectations of further rate hikes among major economies increased.



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Swiss Bond Yield Holds After SNB Decision
The yield on the Swiss 10-year government bond held near 0.57%, the highest since the over a year and a half high of 0.613% hit on September 14th, following the Swiss National Bank’s monetary policy decision. The SNB left its key rate unchanged at 0% at its September meeting, citing elevated uncertainty amid persistent tensions in the Middle East that keeps global oil prices elevated. Still, Swiss economic growth was stronger than anticipated, supported by a weaker Swiss franc, while medium-term inflationary pressures increased only slightly, pointing to the limited impact from disruptions to the energy supply chain. Additionally, inflation forecasts were raised slightly to average 0.7% in 2026 and 0.8% in 2027 and 2028, well within the SNB's target, while economic growth is expected to reach between 1.5% and 2% in 2026 and around 1.5% in 2027. Elsewhere, a rebound in global oil prices led to a bond sell-off as expectations of further rate hikes among major economies increased.
2026-09-24
Swiss Bond Yield Rebounds
The yield on the Swiss 10-year government bond rose above 0.55% after reaching its lowest level in over two weeks, as global oil prices rebounded, raising concerns over prolonged inflationary pressures. On the monetary policy front, the Swiss National Bank is set to announce its policy rate decision on Thursday and is widely expected to leave the rate unchanged at 0%. A Swiss Bankers Association survey showed that all respondents expect the SNB to keep its policy rate at 0% through the end of the year. Markets are pricing in the first rate hike for June 2027, while most economists expect the first increase in early 2028. Meanwhile, the State Secretariat for Economic Affairs raised its forecast for economic growth in 2026 to 1.7%, as the impact of higher energy prices remains limited, up from its June projection of 0.9% and broadly in line with the OECD’s latest forecast of 2%.
2026-09-23
Swiss Bond Yield Falls to One-Week Low
The yield on the Swiss 10-year government bond fell to around 0.54%, reaching its lowest level in over a week, as declining global oil prices eased concerns over inflationary pressures. On the monetary policy front, the Swiss National Bank is set to announce its policy rate decision on Thursday and is widely expected to leave the rate unchanged at 0%. A Swiss Bankers Association survey showed that all respondents expect the SNB to keep its policy rate at 0% through the end of the year. Markets are pricing in the first rate hike for June 2027, while most economists expect the first increase in early 2028. Meanwhile, the State Secretariat for Economic Affairs raised its forecast for economic growth in 2026 to 1.7%, as the impact of higher energy prices remains limited, up from its June projection of 0.9% and broadly in line with the OECD’s latest forecast of 2%.
2026-09-21