Arab Today, arab today swiss unemployment to rise on strong franc
Last Updated : GMT 00:06:52
Arab Today, arab today
Arab Today, arab today

Swiss unemployment to rise on strong franc

Arab Today, arab today

Arab Today, arab today Swiss unemployment to rise on strong franc

Geneva - AFP

Swiss unemployment would rise if the country\'s currency fails to weaken to levels last seen in early July, the head of the state secretariat for economy\'s labour division said in remarks published on Sunday. Serge Gaillard said that even with the scenario of a robust economy and an exchange rate of 1.20 to 1.30 franc against the euro, the secretariat, the economics ministry\'s data collection and forecasting arm, expected the unemployment rate to rise in the autumn, he said. \"The euro now costs less than 1.10 franc,\" Gaillard told Swiss newspaper NZZ am Sonntag. Swiss unemployment reached 2.8 percent in June, a 2.5 year low. The Swiss franc has strengthened to records against the euro and the dollar amid persistent fears over the ability of advanced economies to service their debt. On Wednesday, the Swiss central bank assessed that the franc was \"massively overvalued\" and threatening the export-led Swiss economy, and took measures to try to lower its value -- saying it would increase the supply of liquidity and cut its already low benchmark lending rate, The measures proved to have a limited effect, as the franc is now trading at 1.09 against the euro. Citing anonymous sources, NZZ am Sonntag said the Swiss government would soon take further action to dilute the impact of the strong franc on the domestic economy. Among these measures are plans to tighten anti-cartel rules, so that importers currently benefiting from the strength of the Swiss currency, would be forced to pass on their savings to consumers, said the newspaper. This could help to halt the exodus of Swiss shoppers, many of whom are heading to bordering Germany or France to do their weekly grocery shopping.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swiss unemployment to rise on strong franc Arab Today, arab today swiss unemployment to rise on strong franc

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Merna Waleed praises her work with Soad Hosni

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:38 2017 Friday ,24 March

Pass health bill Friday or he'll move on

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday