Swiss Stock Market Week Ahead: SNB at 0%, UBS Capital-Rules Compromise, Tariff Relief, and the Key Catalysts to Watch (Dec 15–19, 2025)
Swiss equities extended losses last week, with the Swiss Market Index slipping to the high-12,800s amid late selling and profit-taking. The Swiss National Bank kept its policy rate at 0% and signaled readiness to intervene in currency markets. UBS shares hit their highest since 2008 after lawmakers floated a capital-reform compromise. U.S. tariffs on Swiss goods will drop to 15% from 39%, Swiss officials said.