Friday, December 12, 2008

Economy: Swiss economy set for downturn

The Swiss National Bank (SNB) has forecast Switzerland's economic growth will be negative next year, falling to between - 0.5 and -1 percent,

In a statement, the bank said it was prepared to "take all necessary steps" to support the economy in the face of the deteriorating global economic environment, the official Swissinfo news website reported.

The SNB "will continue to provide the Swiss franc money market with a generous and flexible supply of liquidity," it said.
Published by Mike Hitchen, Mike Hitchen Consulting
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