10. Stock Exchange Equivalence and Old Hats

The lobby of the financial market has demanded that the government should abolish the stamp duty to make up for the possible exclusion of the Swiss stock exchange from the EU common market. The Swiss financial market hopes to attract huge amounts of money and more emissions to Switzerland. A study showed that the abolition may help create 22,700 new jobs in Switzerand.

The calls will get louder in 2019 as the tug-of-war between the EU and Switzerland about the framework agreement – and by implication about the stock exchange equivalence – will continue. The equivalence has only been extended until June 2019.

11. Negative Rates – How Much Longer?

The central bank stuck to its guns and kept the rates at a record low to keep the franc from appreciating, mainly against the euro. The euro is the currency of Switzerland's biggest trading partners. With slowing growth and price stability intact, policy makers won't be rushed into a sudden change of policy. U.S. bank Morgan Stanley doesn't expect a first move before the end of 2019.