Swiss Commercial Banks Paid CHF8 Billion to SNB Since 201524 January 2020
Swiss commercial banks have all together paid as much as CHF8 billion in fees due to negative interest rates to Swiss National Bank since 2015, when its monetary policy was imposed.
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”.