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CHF/HKD News
Swiss Growth Unexpectedly Maintains Pace on Services, Consumers
Switzerland’s economy unexpectedly maintained momentum at the start of the year on services and private consumption, while concerns about struggling exporters persist.
Swiss Trade Surplus Jumps in April
Switzerland's trade surplus climbed to 3.91 billion francs in April from the revised 3.06 billion francs in March, the Federal Office for Customs and Border Security said Thursday.
SNB's Jordan:There Is Small Upward Risk to the Central Bank's Inflation Forecast
Swiss National Bank (SNB) Thomas Jordan said early Thursday that there is a small upward risk to the bank's inflation forecast.
Weaker Franc Is Key Risk to Swiss Inflation, SNB's Jordan Says
A weaker franc is currently the most likely source of higher Swiss inflation, central bank president Thomas Jordan said, after the currency dropped to its weakest level in more than a year.
The HKD interest rate rose above 4% across the board for three consecutive trading days
On May 21, the HKD interest rate rose across the board for three consecutive trading days. Among them, the overnight interest rate rose above 4% to 4.06226%, reaching a new high of more than two weeks.
Hong Kong's GDP Growth Slows to 2.7% in Q1, Revised Figures Say
GDP during the preceding quarter rose by 4.3%, while the seasonally-adjusted GDP rose by 2.3%, the report said.
Hong Kong's GDP grew 2.7% year on year in the first quarter and remained unchanged at 2.5% to 3.5% for the whole year
On May 17, the Hong Kong Government published the “Economic Report for the First Quarter of 2024” and revised GDP figures for the first quarter of 2024.
Swiss Quarterly Unemployment Rate Falls to 4% in Q1
Switzerland's seasonally adjusted unemployment rate declined to 4% in the first quarter from 4.1% in the prior three-month period, the Federal Statistical Office said Thursday.
Swiss Economy Edges Up 0.2% in Q1, Flash Data Shows
Switzerland's gross domestic product grew 0.2% in the first quarter, according to the first flash estimate by the State Secretariat for Economic Affairs published Thursday.
Swiss Growth Slows as Export Woes Hit Struggling Industry
Swiss economic growth unexpectedly slowed at the start of the year as weak international demand weighed on exporters, according to a first government estimate.
Swiss Monthly Producer, Import Prices Up 0.6% in April
Switzerland's monthly producer and import price index rose 0.6% in April, up from 0.1% in March, data from the Federal Statistical Office showed Tuesday.
Swiss Consumer Confidence Edges Down in April
Switzerland's consumer confidence indicator fell slightly to -38.1 points in April from -38 points in March, government data showed Monday.
Swiss Jobless Rate Falls to 2.3% in April
Switzerland's unemployment rate came in at 2.3% in April, down from 2.4% in March, data from the State Secretariat for Economic Affairs showed Tuesday.
KOF: Swiss Business Situation Improves in April as Manufacturing Slump Eases
The KOF Business Situation Indicator for the private sector increased in April, reflecting improvements in the manufacturing, financial and insurance service sectors, as well as in retail trade.
Hong Kong's Exports, Imports Rise in March
Hong Kong's exports jumped 4.7% to HK$384.5 billion in March, compared with a 0.8% decline in February, data released by the city's census and statistics department on Thursday showed.
Hong Kong Census and Statistics Department: The overall value of Hong Kong's exports and imports in March increased by 4.7% and 5.3% year-on-year respectively
Foreign merchandise trade statistics released by the Statistics Department of the Hong Kong Government on April 25 showed that in March 2024, Hong Kong's overall export and import values both recorded year-on-year increases of 4.7% and 5.3%, respectively.
Swiss Central Bank Recoups Some Losses in First Quarter as Franc Weakens
By Joshua Kirby The Swiss National Bank recovered to a sizeable profit in the first months of the year as the alpine nation's currency weakened, reversing some of the heavy losses booked over the pas
SNB's Jordan: Monetary Policy Should Remain Focused on Inflation
Swiss National Bank (SNB) Chairman Thomas Jordan told Switzerland's national broadcast on Saturday that monetary policy should remain focused on price stability, per Reuters.
Hong Kong's Jobless Rate Accelerates to 3.0% in January to March
Hong Kong's seasonally adjusted unemployment rate quickened to 3.0% in the three-month period of January to March from 2.9% in December 2023 to February 2024 period, the Census and Statistics Department reported on Thursday.
Swiss National Bank's Martin Celebrates Success of FX Intervention as Policy Tool
A Swiss National Bank official said Thursday that foreign exchange intervention is a well-established instrument of monetary policy and without it, interest rates would have had to rise much further than they have in order to rein in inflation.