After unexpected lower inflation numbers yesterday, the Swiss franc fell on the currency markets.
The markets had expected inflation to come in at around the central bank’s target of 2%, but in fact it was 1.3%.
The Swiss National Bank‘s target rate is 1.8% for the first quarter of this year, but the latest numbers mean it’s almost certainly going to undershoot.
This is fuelling expectations the SNB may be the first central bank in the G10 to cut interest rates.
'On the Water Festival' great success
Nearly 3,000 people took to Lake Geneva on Saturday for the second edition of the ‘On The Water Geneva Festival’ — dancing from their boats to music blasted out in 360 degrees from a floating barge.
Nearly a million for Zurich parade
Around 900,000 dance music fans turned out for Zurich’s 33rd Street Parade on Saturday — despite the heat.
Woman found dead on Mont-Blanc
A Russian mountaineer in her sixties has been found dead in a crevasse on the Glacier du Tour on Mont Blanc.
Sugar beet crop wiped out
Sugar beet farmers are facing a disastrous harvest, with drought and extreme heat killing crops before they mature.
Summer ski areas close
Saas-Fee has become the latest ski resort to suspend summer skiing because of the heat.
Russia gets involved with upcoming neutrality vote
Russia is openly campaigning for a yes vote on the upcoming neutrality referendum.
