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SNB President Says Stronger Swiss Franc Painful for Companies
A stronger franc has helped dampen inflation in Switzerland but has also been painful for domestic companies, according to Swiss National Bank President Thomas Jordan. “The nominal appreciation of the franc has lowered inflation,” Jordan said Tuesday at a banking event in Brig. “The real appreciation was much lower, but the franc has also appreciated in real terms in 2023. And that hurts, companies feel that,” he said, adding that Switzerland should nonetheless escape relatively unscathed. “Economists are confident that there won’t be a recession — and we are also confident, otherwise we would forecast ... (full story)