Figures published by Switzerland’s Federal Statistical Office (FSO) on 3 August 2022 show annual inflation running at 3.4% in July, the same rate as June. Switzerland’s consumer price index (CPI) remained stable in July 2022 compared with the previous month, and 3.4% higher compared with the same month of the previous year, said FSO. Over […]
No money likely from Swiss National Bank after large loss
Like most central banks the Swiss National Bank (SNB) is tasked with monetary stability. However, in the process it can inadvertently generate large profits and losses. When monetary policy is expansionist and the resulting assets held by the SNB rise in value it can generate large profits as it has over the last few years. […]
Men continue to dominate the leadership of state companies in Switzerland
An article published by RTS presents data that shows men outnumber women among the leaders of 20 of Switzerland’s 26 largest state affiliated companies. Like in much of the developed world politicians in Switzerland are pushing to get more women into top spots. Switzerland’s Federal Council has said it aims to have 40% of leadership […]
Financial health of Swiss pension funds deteriorates in 2022
A recent report by the government that collected data from a sample of Swiss pension funds shows a significant deterioration in the financial health of Switzerland’s 2nd pillar pension funds over the first half of 2022. Inflation, higher interest rates and falling stock markets have hit the fortunes of the funds. By the end of […]
Swiss rush to buy wood as gas crisis looms
Despite the current heatwave residents of Switzerland have not forgotten about how they might heat themselves over winter. With gas shortages looming and persistently high heating oil and gas prices, some are stockpiling wood. Increased demand for wood is pushing prices higher. Wood prices have already risen 10%, according to RTS. Some vendors have never […]
The online retail fraud made possible by Swiss billing system
In Switzerland it is possible to order goods online without paying up front. Retailers will send orders with a payment slip included with the goods. Fraudsters are exploiting this quirk of Swiss postal retail. Fraudsters order goods online pretending to be someone else. The goods are then shipped without the need to provide any payment […]
Nearly 1 in 6 lives in a household with outstanding debts in Switzerland
Even before high inflation hit people’s pockets many Swiss households were over extended. In 2020, almost one in six residents lived in a household with debt arrears, according to data released this week by the Federal Statistical Office (FSO). The most common overdue payments were taxes (7.5%), health insurance premiums (5.5%), phone bills (4.1%), utility […]
Swiss inflation up again in June 2022
On 4 July 2022, Switzerland’s Federal Statistical Office (FSO) published June inflation data, which show prices 3.4% higher than one year ago, well above the Swiss National Bank target of 2.0%. Switzerland’s consumer price index (CPI) increased by 0.5% in June 2022, less than the 0.7% rise in May 2022. At the end of May […]
Swiss minister asks public to reduce their heating next winter
Switzerland faces a potential gas shortage next winter, warns Switzerland’s Federal Council. Reduced consumption or rationing cannot be ruled out, it warns. At a press conference in Bern on Wednesday, economy minister Guy Parmelin said that there is a very real risk of a gas shortage over winter, reported RTS. Around three quarters of the […]
Swiss Franc worth more than a Euro
This week, the Swiss franc rose to beyond parity with the euro as traders sought safe haven assets as concerns about risks to global growth grew. The Euro-Swiss Franc pair fell below 1.00 franc per euro during the morning of 29 June 2022 and remained below 1.00 until the morning of 1 July 2022 when […]
