European Central Bank cuts forecast, euro exchange rate gets affected

The European Central Bank decreased its forecast for economic growth and inflation, whereas the Swiss National Bank cut its inflation outlook. The decision of ECB, together with some harsh comments of its president, pushed the euro’s exchange rate lower on Friday morning.

Data on wages in Switzerland unveiled: pharma takes the lead

Recently published data on the executive salaries revealed that bankers are no longer the best earning top employees in the country. The pharmaceutical industry has taken over the lead. Also, median wages for all kind of employees in Zurich has been unveiled.

WE CHANGED THE BANK

Euro exchange rate slips as Euro Zone economy slows down

The Euro has fell down against the US dollar, losing its earlier gains. It was due to the comments of Mario Draghi, the head of European Central Bank, that informed the Euro Zone economy growth is slowing down.

FINMA reportedly sets tough restriction on bank crypto trading

Swiss Financial Market Supervisory Authority FINMA is said to put restrictions on banks that crypto assets risk should be weighted eight times their market value when it comes to calculating loss-absorbing capital buffers. Such news comes from confidential letter obtained by swissinfo.ch.