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SNB Chairman Says Swiss Industry Feeling German Weakness
The current weakness in German industry is sapping demand in Switzerland's manufacturing sector, Swiss National Bank Chairman Martin Schlegel said on Saturday. "When Germany has a cold, Switzerland gets the flu," he said, noting that there was significantly less demand among Swiss manufacturers owing to the downturn in Germany, Switzerland's top overall trade partner. Schlegel was speaking at an event in Frankfurt organized by Germany's Bundesbank less than two weeks before the Swiss central bank is due to make its next interest rate decision. So far in 2024, the SNB has reduced its benchmark rate three times to ... (full story)
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- Posted: Nov 30, 2024 12:33pm
- Submitted by:Category: Low Impact Breaking NewsComments: 1 / Views: 2,972
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