Léman Express: Number of Passengers at Half the Target21 January 2020
So far Léman Express, the newly opened, biggest cross-border rail network in Europe, attracts nearly 25,000 passengers per day. Number is at half of the target, but authorities says it is too early to assess the project.
Swiss Franc Rises After Switzerland Gets to US ‘Watchlist’17 January 2020
Switzerland on Manipulation Currency Watchlist
The US Treasury has added Switzerland to its watchlist for countries that supposedly manipulate their currencies, as it called for Swiss government to spend more public money and cut taxes. The US has issued report in which it calls Switzerland to “more forcefully support domestic economic activity” by spending more money while simultaneously reducing taxes, that are already considered low. It is very unusual move to dictate a sovereign country how it should deal with its fiscal policy. The US Treasury justified that “Despite borrowing costs for the Swiss government being among the lowest in the world, fiscal policy remains underutilised, even within the constraints of Switzerland’s existing fiscal rules”.
Euro rate reached its lowest level in a long time at 1,076.14 January 2020
This afternoon the euro franc exchange rate broke through the 1,076 barrier, the lowest level in almost 3 years. The strength of the Swiss franc is due to global uncertainty, especially tensions in the Middle East and fear of a new economic crisis. According to experts, the exchange rate will settle in this area in the middle period.
You can find the current euro exchange rate at which you can buy euros at ExchangeMarket.ch/de
Swiss Unemployment Lowest in 20 Years10 January 2020
In 2019 the unemployment rate in Switzerland fell to 2.3%, hitting the lowest point in almost 20 years, meaning labour market is in good shape despite economic slowdown. Meanwhile, trade unions prepare to defend wages in UE-Switzerland deal.