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Swiss real-estate boom puts economy at risk warns SNB Danthine

Posted on 17 April 2013

The property market boom in Switzerland, driven in part by historically low interest rates, leaves the economy highly vulnerable and needs to be carefully monitored, Swiss National Bank Vice Chairman Jean-Pierre Danthine said Tuesday.
“Swiss real-estate prices have been increasing since 2000, and at an accelerated speed since 2008, reaching levels about 40% to 60% higher than 12 years ago,” Mr. Danthine said in a speech to be given Tuesday. The vice chairman’s speech was largely concerned with the risks of rapid credit growth in Switzerland, rather than the SNB’s current monetary policy……………………………………Full Article: Source


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