UBS CFA Indicator: Analysts’ sentiment remains subdued

• The UBS CFA Indicator edged up in April to -30.3 but remains subdued. Nonetheless, GDP and inflation forecasts for Switzerland remain largely unchanged for 2026 and 2027.
• Inflation is expected to accelerate in Switzerland, the Eurozone, and the US, but most analysts foresee no change in short-term interest rates. For the Eurozone, analysts’ expectations diverge from market pricing, which currently suggests two rate hikes.
• Expectations for Swiss franc appreciation have increased, with a majority now forecasting gains against both the euro and the US dollar.

Where do I find the PDF? Please click on the Link below, scroll to «Marketing Publications: Retail Outlook 2026, PMI and Financial Market Survey», click on «UBS CFA Indicator: Analysts’ sentiment remains subdued’ sentiment» and download the publication.

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