Swiss KOF barometer edges up to 101.7 on stronger demand.Switzerland's KOF Economic Barometer ticked higher in November, rising from 101.5 to 101.7 and signaling modest improvement in the near-term economic outlook.
Swiss GDP contracts -0.5% in Q3, pharma and chemicals lead decline.Swiss GDP fell -0.5% qoq in Q3, marking a sharp reversal driven almost entirely by the chemical and pharmaceutical sector. After strong momentum earlier in the year, the industry saw output plunge -7.9%, erasing prior gains and dragging the broader economy into contraction.
SNB's Schlegel says negative rates possible but bar remains high.SNB Chairman Martin Schlegel signaled over the weekend that the central bank remains willing to reintroduce negative interest rates if mid-term price stability were threatened. However, he emphasized that “the bar is high”.