Swiss Economy May Slow To Below 1% Growth In 2012 - Report

Date : 11/11/2012 @ 9:31AM
Source : Dow Jones News

Swiss Economy May Slow To Below 1% Growth In 2012 - Report

ZURICH--Switzerland's economy may grow at a slower pace this year than the 1% the country's central bank forecast in September, Fritz Zurbrügg, a member of the Swiss National Bank policy-setting directorate says in a newspaper interview Sunday.

"Taking the International Monetary Fund's forecasts into account, the slowdown of the Swiss economy has probably accelerated," Zurbrügg said in an interview with Swiss weekly NZZ am Sonntag.

In September, the SNB lowered its 2012 growth forecast to 1% from 1.5%, down from 1.9% growth in 2011. The central bank's next quarterly monetary policy assessment is scheduled for Dec. 13.

Zurbrügg reiterated that the SNB would take measures if a worsening of the economic situation made this necessary.

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