Sentiment indicators and export expectations are currently further inside positive territory than they have ever been before, thanks in no small part to the latest US fiscal stimulus package. Furthermore, even the prospects for the labour market are brightening. According to survey outcomes, the CHF is likely to depreciate during the reflation phase.

There is little sign of pessimism among analysts with regard to the pandemic’s long-term impact on growth. Their inflation expectations for the next five years remain anchored within the SNB’s target range.

Read the full article (see under Research: Swiss Economy / Financial Market Survey – March 2021 (PDF))  here.

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