Country
Switzerland CHE
SNB
score date 2026-10-09 · 30d -0.3
Seven dimensions
Credibility gap92.4
IMF / national CPI · as of 2026-07-01 · coverage: gold
Behind the curve39.7
BIS policy rates + CPI · as of 2026-10-06 · coverage: gold
Communication39.5
Central-bank statements · as of 2026-10-09 · coverage: gold
Geopolitical48.5
GDELT · as of 2026-10-09 · coverage: gold
Growth33.3
World Bank WDI / IMF WEO · as of 2026-10-09 · coverage: gold
Liquidity70.8
IMF BOP / BIS / FRED · as of 2026-10-09 · coverage: gold
Governance83.4
World Bank WGI · as of 2026-10-09 · coverage: gold
Switzerland sovereign credibility, in brief
Switzerland scores 60.5 out of 100 on the composite sovereign credibility index — credibility band 50–65. That ranks it 5 of 8 in G10, the 50th percentile of the region. The score has fallen 0.2 points over the past seven days. CPI 0.4% vs 1.0% target (-0.6pp) — slightly below target | adequate credibility (61/100).
As of 2026-10-09 · scored daily from public data under methodology v8
Executive summary
written 10 Oct · score 9 OctSwitzerland scores an adequate 60.5, ranking fifth of eight in G10, with inflation below target and the policy rate at zero.
- Composite position: The score of 60.5 sits just under the G10 average of 61.7.
- Credibility gap: The gap score of 92.4 is the highest input, driven by CPI at 0.4%.
- Inflation vs target: CPI runs 0.6pp below the 1.0% band, so the near-term risk is undershoot.
- Policy stance: The 0.0% rate leaves little room to ease, and the behind-the-curve score is 39.7.
- Geopolitics: The 48.5 score rests on ten local, non-economic stories, so it likely overstates risk.
- Watch item: The next CPI print against the 1.0% band, and any SNB signal on the zero rate.
Peer context
Rank 5/8 in G10 · 50th percentile
Region avg 61.7 · best 67.5 · worst 59.6
Ranked either side
- United Kingdom 61.8
- Germany 61.7
- Japan 59.7
- Canada 59.7
90-day trend
External pulse
- Commodity terms-of-trade, 12m change
- -0.4%
- as of 2026-10-10
- Electricity demand, YoY
- -2.4%
- as of 2026-05-01
- Industrial production, YoY
- -13.1%
- as of 2026-03-01
Terms-of-trade: IMF Commodity Terms of Trade · Electricity: Ember (CC BY 4.0) · Industrial production: Eurostat, © European Union (CC BY 4.0)
Key indicators
Inflation & rates
| 10Y sovereign yield | 0.5% | 2026-08-01 | FRED |
External & activity
| Cpi monthly index | 101.1 | 2026-07-01 | ILO CPI |
| Current account (% GDP) | 7.0% | 2025-12-31 | World Bank |
| Electricity demand (TWh) | 5.4 | 2026-05-01 | Ember |
| FDI inflows (% GDP) | -1.2% | 2025-12-31 | World Bank |
| GDP growth, annual | 1.3% | 2025-12-31 | World Bank |
| Geopolitical risk | 0.1 | 2026-09-01 | GPR (Caldara–Iacoviello) |
| Industrial production index (2021=100) | 108.2 | 2026-03-01 | Eurostat |
| Nightlights radiance (monthly sum) | 235.1K | 2025-12-01 | World Bank / NASA Black Marble |
| Nightlights radiance, YoY | -13.5% | 2025-12-01 | derived |
| Remittances (% GDP) | 0.4% | 2025-12-31 | World Bank |
| Reserves (months of imports) | 13.2 mo | 2025-12-31 | World Bank |
| Retail sales volume index (2021=100) | 102.7 | 2026-05-01 | Eurostat |
| Retail sales volume, YoY | 3.6% | 2026-05-01 | Eurostat |
| Trade openness (% GDP) | 147.2% | 2025-12-31 | World Bank |
| Unemployment rate | 4.9% | 2025-12-31 | World Bank |
| Unemployment rate (ILO) | 4.8% | 2025-12-31 | ILO |
Structure
| GDP per capita (USD) | $114,769 | 2025-12-31 | World Bank |
| Government debt (% GDP) | 22.3% | 2024-12-31 | World Bank |
| Labor force participation | 67.3% | 2025-12-31 | ILO |
| WGI: control of corruption | 2.0 | 2025-12-31 | World Bank |
| WGI: government effectiveness | 2.0 | 2025-12-31 | World Bank |
| WGI: political stability | 1.1 | 2025-12-31 | World Bank |
| WGI: regulatory quality | 1.7 | 2025-12-31 | World Bank |
| WGI: rule of law | 1.7 | 2025-12-31 | World Bank |
| WGI: voice & accountability | 1.5 | 2025-12-31 | World Bank |
Eurostat, © European Union (CC BY 4.0) · Nightlights: World Bank / NASA Black Marble VIIRS (CC BY 4.0)
Follow the moves
Every figure above is recomputed daily from public data, with the source and as-of date shown for each one. The weekly briefing says which scores moved, and why.