The leading indicators also point to slower growth in Switzerland. By international comparison, however, Swiss companies and households remain relatively optimistic. Consumer confidence has fallen to its lowest level for a year, even hitting a 10-year low in the USA and eurozone.
In 2015, the Swiss National Bank (SNB) introduced negative interest rates to halt the appreciation of the Swiss franc. The Swiss franc – measured by purchasing power – is currently at its weakest for 30 years, which means that the reason for introducing negative interest rates is no longer valid. For this reason, the SNB may raise interest rates on 16 June for the first time in 15 years.