Switzerland’s decision to limit immigration will hurt economic growth, according to economists who cover the country.
When pharmacy assistant Heinrich Nestle left Frankfurt in the 1830s to set up shop in Switzerland, his native country lost a future corporate tycoon.
Swiss central bank President Philipp Hildebrand’s pledge to protect the economy with unlimited currency purchases may come at a higher cost than billions of francs: faster inflation.
German exports to Switzerland rose to a record last year.
Swiss inflation unexpectedly slowed in January as the franc’s appreciation helped push down the cost of imported goods.
Swiss exports declined in the first quarter on flagging demand from the European Union, adding to signs the strong franc is hampering foreign sales.
Swiss inflation unexpectedly slowed in July as lower costs for imported products helped offset higher energy prices.
Swiss National Bank interim Chairman Thomas Jordan is facing a showdown with investors as his currency policy endures the biggest credibility test to date.
Swiss central bank President Philipp Hildebrand said he’s ready to act if deflation risks emerge after officials maintained their limit on the franc, resisting pressure from exporters to further curb its strength.
"Consumers have discovered shopping abroad."
- Claude Maurer on Dec 18, 2012