Switzerland’s State Secretariat for Economic Affairs (SECO) published its quarterly economic forecasts report, highlighting the following:
Swiss government sees 2017 GDP growth at 1.4% vs 1.6% previous forecast in March
2017 inflation at 0.5% as prev
2018 GDP 1.9% as prev
2018 inflation 0.2% vs 0.3% prev
Swiss franc could appreciate sharply if European debt crisis flares up again or situation in banking sector worsens significantly.
Meanwhile, the USD/CHF pair flirts with daily lows of 0.9744, unfazed by SECO’s forecasts.
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