• The UBS CFA Society Switzerland Indicator continued its downward trend in December and dropped to -20.0 points from -12.4 points.
• Following the larger-than-expected rate cut by the Swiss National Bank (SNB) in December, survey participants have lowered their expectations for both short- and long-term interest rates.
• The assessment of the long-term outlook has not changed significantly since September, with Swiss growth most likely 1-2% and inflation within the SNB's target range of 0-2%.

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