English>

Marché Nouvelles

Swiss Businesses See No Reason to Panic Over Latest Franc Surge - BLOOMBERG

JANVIER 24, 2022

The Swiss franc’s latest appreciation has pushed it to a six-year high against the euro, but the consensus among businesses is that rapid move isn’t having an immediate negative impact on the economy.

“High prices are an indicator of a successful economy,” said Rudolf Minsch, the chief economist at business lobby economiesuisse. “This is the price you have to pay.” 

On Monday, the franc briefly touched 1.03 against the euro, hitting its strongest level since 2015. The spike was driven, in part, by the crisis in Ukraine, which boosted demand for safe haven assets.

The franc has been on an almost non-stop appreciation against the euro since September, also thanks to low inflation relative to the neighboring euro area. Swiss consumer-price growth was just 1.3% in December, well below the 5% rate in the single currency zone. 

Despite that strength, the franc’s latest gains aren’t a huge concern so far for companies which have generally hedged their exposure to franc fluctuations -- a painful lesson many learned in 2015 when the Swiss National Bank unexpectedly scrapped its cap on the euro.

“It is a different situation than we had in 2015,” said Ivo Zimmermann, a spokesman for the Swiss industry group Swissmem. “The purchasing power of the Swiss franc has declined significantly since then.”

VOYEZ COMBIEN VOUS OBTENEZ SI VOUS VENDEZ

NGN
Ce site web utilise des cookies Nous utilisons des cookies pour personnaliser le contenu et les annonces, pour fournir des fonctionnalités de médias sociaux et pour analyser notre trafic. Nous partageons également des informations sur votre utilisation de notre site avec nos partenaires réseaux sociaux, publicitaires et d'analyse, qui peuvent les combiner avec d'autres informations que vous leur avez fournies ou qu'ils ont recueillies lors de votre utilisation de leurs services.
Real Time Analytics