NEWS

On Monday 11th February in the early hours, at the start of Asian trade, the exchange rate of Swiss Franc experienced what is called by analysts a “flash crash”. The rate of CHF against USD skipped and then rebounded, changing in total by one percent in just a matter of minutes.

The Swiss stock exchange trading volume was higher in 2018 comparing to 2017. Many segments enjoyed a bit better year, expect for ETFs. However, turbulent stock markets over the course of the whole year vastly affected the private banking sector’s revenues and assets under management figures.

A newly published report on technology – fintech, biotech, IT and others – startups in Switzerland showed that last year was record one for them in terms of received funding. Overall, they received in funding much more money than in previous year.

The European Central Bank announced on Thursday 24th that it kept its policy unchanged in a move that was considered dovish by experts. A rate hike is still probable later this year, even though the eurozone economy is experiencing a slowdown. The Euro exchange rate fell down upon the news as the US Dollar gained.

Prime Minister of the UK Theresa May failed to secure parliamentary support for her Brexit plan this week and as a result the leaving process of the country from the EU is now in limbo. The SNB expressed its concerns of the situation, whereas the Swiss Parliament gave green light for deals with the UK.