Brexit gloom hits Swiss economic outlook

The impact of the EU Referendum in the UK has hit the economic outlook in Switzerland, according to the latest ZEW Credit Suisse Survey, with the index dropping by 13.5 basis points to 5.9 basis points.

The index, reflecting the views of 35 Swiss analysts, also highlighted that the assessment of the current economic situation in Switzerland deteriorated from 6.2 to 0 basis points.

About 90% of respondents stated that uncertainity has increased as a result of the referendum outcome.

With regard to monetary policy, nearly 80% of respondents believed that Swiss and ECB interest rates would remain stable, a growing number of respondents believed that a US rate hike could now be deferred further.

ABOUT THE AUTHOR
Mona Dohle
Mona Dohle speaks German and Dutch, she is DACH & Benelux Correspondent for InvestmentEurope. Prior to that, she worked as a journalist in Egypt and Palestine. She started her career as a journalist working for a local German newspaper. Mona graduated with an MSc in Development Studies from SOAS and has completed the CISI Certificate in International Wealth and Investment Management.

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