NEWS

New study showed that Geneva residents spend more in shopping than French people on cross-border trips. It was the first ever survey conducted on consumers’ spending habits in the Greater Geneva Region.

Euro Franc change rate  last week came close to the lowest exchange rates in a month due to cautious approach of investors. The upcoming ECB’s meeting was the reason behind their concerns. Investors though remain positive as they hope for rebound later this year.

International Monetary Fund has issued a forecast stating that gross domestic product in Switzerland for year 2019 will be at 1.1%. This means an economic slowdown. The moderate recovery is expected to take place in 2020.

The recent report provided by PricewaterhouseCoopers and obtained by the Swiss public radio RTS has conclusions stating that the Swiss financial center must try to become more sustainable and transparent if it wants to ensure smooth access to the European market.

The Swiss National Bank has decided not to raise interest rates that are very low and announced new forecast for inflation even lower than the previous one. The institution warned that global economic slowdown could get worse. It also emerged that in 2018 the SNB bought foreign currencies worth CHF2.3 billion.