30 September 2026
The Swiss National Bank (SNB) left the SNB policy rate unchanged at 0% at its monetary policy assessment of 24 September 2026.
The discount for sight deposits above the remuneration threshold stays at 0.25 percentage points.
Inflation rose from 0.6% in May to 0.8% in August, mainly because of higher prices for oil products.
The conditional inflation forecast puts average annual inflation at 0.7% for 2026 and 0.8% for 2027 and 2028, assuming a 0% policy rate throughout.
The SNB expects GDP growth of between 1.5% and 2% for 2026 and around 1.5% for 2027.
SNB policy rate:
0%
Inflation, August:
0.8%
Expected 2026 GDP growth:
1.5% to 2%
Why it matters for exams: Central bank rate decisions and inflation figures of major economies are regular questions in UPSC, SSC and bank exams.
UPSCSSCBank
30 September 2026
Switzerland's GDP, adjusted for sporting events, grew by 1.5% in the second quarter of 2026, after 0.5% growth in the previous quarter.
This is the strongest GDP growth recorded since the third quarter of 2021, according to the State Secretariat for Economic Affairs (SECO).
The chemical and pharmaceutical industry made the largest contribution, while value added also rose across a wide range of other sectors.
Exports excluding transit trade rebounded by 9.7%, following a 1.2% decline in the first quarter.
Q2 2026 GDP growth:
1.5%
Previous quarter growth:
0.5%
Exports excluding transit trade:
9.7%
Why it matters for exams: Quarterly GDP growth of a major European economy, and which sector drove it, is a typical economy current-affairs question.
UPSCSSCBank
30 September 2026
In the popular vote of 27 September 2026, about 70% of voters rejected the neutrality initiative.
A majority in all 26 cantons voted against it, so not one canton backed the plan.
The initiative, launched by the pro-sovereignty group Pro Schweiz (Pro Switzerland) and backed by the Swiss People's Party, would have defined neutrality as 'perpetual and armed'.
It would have barred Switzerland from joining or cooperating with military alliances, except when under attack or facing imminent attack, and from joining sanctions not imposed by the United Nations.
The Swiss government, parliament and nearly all major parties opposed the proposal.
Voters against:
about 70%
Cantons in favour:
0 of 26
Why it matters for exams: Swiss neutrality and its direct-democracy votes are standard topics when examiners ask about Switzerland and Europe.
Kerala PSCUPSCSSC
Background
The Federal Constitution deals with the rights of voters in Switzerland to act directly in Title 4: The People and the Cantons, Chapter 2: Initiative and Referendum. Under Art. 138, any 100,000 persons eligible to vote may within 18 months of the official publication of their initiative propose a complete revision of the Federal Constitution, and that proposal must be submitted to a vote of the People. Under Art. 139, any 100,000 persons eligible to vote may within 18 months of the official publication of their initiative request a partial revision of the Federal Constitution in specific terms. An initiative in the form of a specific draft shall be submitted to the vote of the People and the Cantons. Art. 141 provides for the optional referendum: if within 100 days of the official publication of the enactment any 50,000 persons eligible to vote or any eight Cantons request it, the enactment shall be submitted to a vote of the People.
Signatures for a popular initiative:
100,000 within 18 months
Signatures for an optional referendum:
50,000 within 100 days
Cantons that may demand a referendum instead:
any eight Cantons
Federal Constitution provisions:
Art. 138, Art. 139 and Art. 141
Why it matters for exams: The popular initiative and the optional referendum are the classic comparison used against India's purely representative amendment process under Article 368, and the signature thresholds and time limits are frequently asked as numbers.
Kerala PSCUPSC
Background
The southern part of the country is dominated by the Alps, some of which are snow-capped. North of the Alps, the landscape descends into the Central Plateau, which covers about a third of Switzerland and is home to major cities like Zurich and the de facto capital city, Bern. It is the most densely populated region and hosts the majority of the country’s industry, manufacturing and farming. Along the northwestern edge of the country are the Jura mountains, consisting of a sequence of folds in the geology. The Aletsch Glacier, the largest in the Alps, has a curved x-shape, and owing to climate change the glaciers in this region are showing long-term retreat. Switzerland has thousands of lakes shaped by glaciers during the last ice age, about 15 000 years ago. Lake Geneva in the west is shared with France, while Lake Constance in the east is shared with Germany and Austria, making Lake Neuchâtel in the northwest the largest entirely within Switzerland. Lake Lucerne, near the centre of the country, has four arms.
Share of Switzerland covered by the Central Plateau:
about a third
De facto capital city:
Bern
Largest glacier in the Alps:
Aletsch Glacier
Lake shared with France:
Lake Geneva
Lake shared with Germany and Austria:
Lake Constance
Largest lake entirely within Switzerland:
Lake Neuchâtel
Age of the lakes:
shaped during the last ice age, about 15 000 years ago
Why it matters for exams: Switzerland's three landscapes, the lakes it shares with its neighbours and the largest glacier in the Alps are the standard map and superlative questions, usually set against plausible wrong names.
Kerala PSCUPSCSSC
Background
The Trade and Economic Partnership Agreement (TEPA) is between India and the EFTA States, which are Iceland, Liechtenstein, Norway and Switzerland. The TEPA between India and the EFTA States was signed on 10 March 2024 in New Delhi and entered into force on 1 October 2025. Together India and the EFTA States represent a combined GDP of about USD 5.4 trillion. The entry into force was marked by a high-level event, the Prosperity Summit, in New Delhi hosted by Shri Piyush Goyal, Minister of Commerce & Industry of India. The dignitaries welcomed the shared objectives to mobilise USD 100 billion of investments in India over fifteen years and to support the creation of one million direct jobs, with an investment facilitation mechanism to monitor delivery. The agreement provides enhanced market access and streamlines customs procedures, making it easier for Indian and EFTA businesses to expand their operations into growing markets. The parties note that trade in goods has increased steadily over time and trade in services has roughly doubled in the last decade.
TEPA signed:
10 March 2024 in New Delhi
TEPA entered into force:
1 October 2025
EFTA States:
Iceland, Liechtenstein, Norway and Switzerland
Combined GDP of India and the EFTA States:
about USD 5.4 trillion
Investment objective:
USD 100 billion in India over fifteen years
Jobs objective:
one million direct jobs
Why it matters for exams: TEPA is the trade agreement that ties India to Switzerland and the three other EFTA states, and the EFTA grouping is routinely confused with the European Union in objective papers.
Kerala PSCUPSCBank
Background
The United Nations list of Member States records Switzerland's date of admission as 10 September 2002.
Switzerland is therefore one of the UN's more recent members.
Timor-Leste was admitted in the same year, on 27 September 2002.
Date of admission to the UN:
10 September 2002
Why it matters for exams: The year Switzerland joined the UN is a classic fact question, often paired with its non-membership of the EU and NATO.
Kerala PSCUPSCSSC
Background
The India-EFTA Trade and Economic Partnership Agreement (TEPA) was signed on 10 March 2024 at New Delhi and came into effect on 1 October 2025.
Among EFTA countries, Switzerland is the largest trading partner of India, followed by Norway.
Switzerland made 128 services commitments, against 114 for Norway, 110 for Iceland and 107 for Liechtenstein.
TEPA incorporates, for the first time in any FTA signed by India, a commitment linked to investment and job creation.
TEPA signed:
10 March 2024
TEPA in effect:
1 October 2025
Swiss services commitments:
128
Why it matters for exams: The India-EFTA agreement and which member is India's biggest partner are recurring international-relations and economy questions.
Kerala PSCUPSCSSCBank
Background
Switzerland has been a WTO member since 1 July 1995 and a member of GATT since 1 August 1966.
The WTO's headquarters are in Geneva, where its General Council meets several times a year.
The WTO has 166 members, accounting for 98% of world trade.
WTO member since:
1 July 1995
GATT member since:
1 August 1966
WTO headquarters:
Geneva
Why it matters for exams: Headquarters of international organisations and a country's memberships are staple static questions.
UPSCSSCBank
Background
CERN's address is Esplanade des Particules 1, Geneva, Switzerland.
The CERN Convention was signed by 12 states in 1953, and CERN began in 1954.
The laboratory's foundation stone was laid in the presence of Max Petitpierre, President of the Swiss Confederation.
CERN's achievements include the early discovery of neutral currents and technologies such as the World Wide Web.
Location:
Geneva, Switzerland
Convention signed by:
12 states
Why it matters for exams: CERN's location, founding and discoveries are frequent science and international-organisation questions.
Kerala PSCUPSCSSC
Background
Guy Parmelin assumed the office of President of the Swiss Confederation on 1 January 2026.
He succeeded Karin Keller-Sutter and heads the Federal Council for the current year.
He says he intends to promote collegiality and dialogue.
President of the Confederation:
Guy Parmelin
Predecessor:
Karin Keller-Sutter
Why it matters for exams: The Swiss Presidency heads the Federal Council, and its current holder is a recurring question.
Kerala PSCUPSCSSC
Background
The Swiss National Bank is tasked with ensuring price stability, while taking due account of economic developments.
Its monetary policy strategy has three elements: a definition of price stability, a medium-term inflation forecast and the SNB policy rate.
It implements policy by setting the SNB policy rate, keeping short-term Swiss franc money market rates close to it.
The SNB commenced operations in 1907.
Central bank of:
Switzerland
Commenced operations:
1907
Why it matters for exams: The mandate and tools of a central bank, and the currency it manages, are classic static economy questions.
UPSCSSCBank