How potential SNB rate cuts could be offset by rising mortgage margins - En anglais

The Swiss debt market has experienced significant and unprecedented changes since the financial crisis in 2008 until 2022. Starting with Basel III regulatory framework in response to the global financial crisis until the era of negative interest rates which ended abruptly in 2022 due to globally rising inflation rates. Since then, the Swiss National Bank (SNB) has been navigating a delicate balance in monetary policy to simultaneously control inflation and provide companies with enough liquidity. A significant component of the country's wealth is captured by a functioning debt market for mortgages, totaling over 1.2 trillion Swiss francs which is half of the French mortgage market. A substantial portion of this 1.2 trillion market will require refinancing in the coming years.