Posts Tagged ‘switzerland’

Switzerland: GDP growth

GDP growth for the second quarter of 2011 was published this morning, in line with expectations, at +0.4% q-o-q (+1.4% annualised). On a year-on-year basis, GDP growth edged down from 2.6% in Q1 to 2.3% in Q2. With the Swiss franc so strong, a slowdown in Swiss economic expansion was widely expected in Q2. However, […]

Extraordinary SNB monetary policy decision

“The current strength of the Swiss franc is threatening the development of the economy and increasing the downside risks to price stability (read deflation risk) in Switzerland. The Swiss national bank will not tolerate a continual tightening of monetary conditions and is therefore taking measures against the strong Swiss franc”. These are the first lines […]

Switzerland: monetary policy assessment

As expected, at its quarterly monetary policy meeting, the SNB kept its target three-month LIBOR rate on hold at 0.25%. As the chart below shows, the official rate has been at this level since March 2009. The Central Bank seemed less upbeat on growth prospects, but remains worried by the “danger of overheating in the […]

Switzerland: GDP growth

Swiss GDP grew by a meagre 0.3% q-o-q in Q1 2011 (+1.0% annualised), well below consensus expectations (+0.7%). Moreover, the Q4 growth rate – while still strong – was revised down from +0.9% to +0.8% (+3.0% annualised). As a result, y-o-y GDP growth edged down from 3.1% in Q4 10 to 2.4% in Q1 11. […]

Swiss National Bank surprinsingly silent regarding the strength of the Swiss franc

As expected, the SNB kept its target rate on hold and was more upbeat on the prospects for growth We still do not expect any rate hike before Q4 2011 at the earliest The SNB was surprisingly silent about problems posed by the surging Swiss franc Although anything looks possible in the short-run, we continue […]

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