The Swiss central bank said companies expect sales to weaken further over the coming months as the global economy falters and the franc hurts export orders. “Uncertainty about future developments has increased perceptibly,” the Swiss National Bank (SNBN) in Zurich said in its quarterly report today. “The caution being exercised by companies is expressed in their restrained employment and investment plans. Their turnover expectations for the next few months have diminished substantially.” The SNB, led by Philipp Hildebrand, maintained its franc ceiling of 1.20 versus the euro on Dec. 15 and pledged to take further ... (full story)