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Switzerland’s growth in 2015 expected to remain subdued - SECO

FXStreet (Mumbai) - The economy will remain very subdued in the second half of the year and is likely to start strengthening again only during the course of 2016, Switzerland's State Secretariat for Economic Affairs (SECO) said on Thursday, in its latest intermediate economic forecast.

Overall growth in GDP for 2015 is expected to be 0.9%, with a moderate acceleration to 1.5% for 2016. The expected average annual unemployment rate of 3.3% in 2015 is likely to rise to 3.6% in 2016, SECO predicts.

SECO expects consumer inflation to be markedly in negative territory at minus 1.1% in 2015 and nearly zero inflation of 0.1% for the next year.

The Swiss National Bank (SNB) has its monetary policy meeting on Thursday and will announce its policy decision at 7.30GMT.

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