NEWS

Restrictions in Switzerland will be vastly eased and on June 19 there will be the end to the emergency situation imposed due to COVID-19 pandemic.

In April Swiss watch exports figures went down by 80% with sales just at CHF329 million. Exports and imports in all industry suffered due to Covid-19 lockdown, and tourism is expected to take a few years to fully recover.

The SNB President Thomas Jordan made some comments on Swiss fiscal policy and strong Swiss franc exchange rate, as well as its reference to euro, in a few interviews. He stated that the SNB has no choice but to keep negative interest rates.

The coronavirus pandemic has triggered a spike in demand for gold, especially among Swiss, who have always loved this asset and hoard a lot of it.

Euro exchange rate got lower on Tuesday after German constitutional board’s ruling that Bundesbank can’t buy more bonds unless the ECB prove they are needed