Swiss economic growth could be weaker than previously forecast – Reuters reports, citing comments from Switzerland's government economist.
The economist cites higher inflation and China lockdown risks for the economic downgrade.
Additional takeaways
Swiss economy will still grow substantially in 2022 as pandemic recovery continues, no risk of immediate recession.
Swiss inflation forecast could be raised.
These comments come after Switzerland's Q1 GDP rose by 0.5% QoQ in Q1 vs. +0.4% expected and 0.2% last.
Market reaction
USD/CHF was last seen trading at 0.9612, adding 0.42% on the day.