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Introduction
Switzerland is the 36th largest economy, with a GDP of $388 million in 2006, and a population of 7.5 million people. With its lon-term monetary security, stability, and bank secrecy, Switzerland is a destination for assets that are seeking a "safe haven." The economy is increasingly dependant on foreign investment and money flows. The country's small size and highly skilled labor force make industry and trade the central part of the economy. With its location in the heart of Europe, the Euro-zone is the country's most important trading partner. The economy also currently has a low interest rate (2.75%), which makes the Swiss Franc a funding currency for carry trade.
Go to Economic and Financial Profile
| Switzerland's Fundamental Indicators and Chart |
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| Monthly Data for January, 2009 |
|
| Date | EST | Indicator | Actual | Forecast | Previous |
| 1/5 | 3:30am |
SVME PMI
|
36.9
|
34.8 |
35.2
|
| 1/8 | 1:45am |
Consumer Price Index m/m
|
|
-0.3% |
-0.7%
|
| 1/8 | 1:45am |
Unemployment Rate
|
|
2.8% |
2.7%
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| Central Bank Watch - Latest Swiss National Bank Decision
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Back to top» |
|
Actual | Forecast | Previous | Revised Form | |
| 0.50% | 0.50% | 1.00% | N/A | ||
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Provided by: Swiss National Bank
From the Release: "The Swiss National Bank (SNB) is lowering the three-month Libor target range by 50 basis
The global economic environment has sharply deteriorated over the past few months. Economic activity has declined in both the US and Europe, and has slowed considerably in Asia. The situation on international financial markets has worsened further since September. The Swiss economy will be heavily affected by these developments. The SNB projects that GDP growth will be negative next year, between –0.5% and –1%. The unfavourable economic outlook and the falling oil price have prompted a radical adjustment of the inflation forecast. Inflation will undergo a substantial decline over the course of next year, and will remain low thereafter. Assuming a constant rate of 0.5% for the three-month Libor, the SNB is now forecasting average annual inflation of 0.9% in 2009 and 0.5% in 2010. The improvement in the inflation outlook has provided room for manoeuvre which the SNB is decisively using. By further lowering the Libor target range, the SNB aims to reduce the risk of a deterioration in the situation, and thus supporting economic activity." |
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