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In its interest rate forecast, UBS expects the Swiss National Bank to raise the key interest rate again by 0.25 percent in view of the fact that inflation remains above 2 per cent. However, the bank predicts that these interest rate increases would already be expected by the markets and therefore the yields of government bonds and mortgage interest rates should be little affected.

In the global marketplace for luxury real estate, just what does US$10 million buy? That is the question in this Luxury Defined edition. Does the big city call? Does the dream call for an island escape? Or perhaps paradise whispers?

In its latest analysis, UBS sees a calming on the interest rate market. It writes on its website: “After the rollercoaster ride in March, events on the bond market calmed down in April. Interest rates for Swiss government bonds moved sideways for all important maturities. The same applies to mortgage interest rates.”