The IMF projects that economic growth will reach 0.8% (real, sport-event-adjusted) in 2026 and that a modest recovery of 1.5% is expected in 2027. Inflation remains low throughout the forecast horizon and within the price stability range of the Swiss National Bank (SNB). The SNB’s current monetary policy stance, and more generally its monetary policy framework, are considered appropriate. The IMF assesses Switzerland’s 2025 external position as broadly in line with medium-term fundamentals and desirable policies. [...]