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Swiss Government Raises 2026 Economic Growth Forecast Amid Strong Momentum

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Switzerland's economy is now seen growing at a stronger rate than previously expected in 2026 following an "exceptionally strong" gross domestic product expansion in the second quarter, according to the Federal Government Expert Group on Business Cycles.

The Swiss State Secretariat for Economic Affairs said Thursday the expert group now expects GDP growth, adjusted for sporting events, to come in at 1.7% in 2026, up from its June forecast of 0.9%. Meanwhile, the 2027 GDP growth forecast was unchanged at 1.6%.

Not adjusted for sports events, Swiss economic growth is anticipated at 2.1% in 2026 and 1.2% in 2027.

As for consumer prices, the inflation estimate for 2026 and 2027 was maintained at 0.6%. The expert group also affirmed its unemployment rate outlook of 3.1% for 2026 and 3% for 2027.

Nevertheless, SECO noted that escalating Middle East tensions, elevated energy costs, and persistent trade policy uncertainties present "significant" risks to the economic outlook.

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International

New Zealand Job Ads Rise 0.6% in August, Up 9.7% Annually, Says Seek

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International

Saudi Central Bank Lifts Rates by 25 Basis Points

The Saudi Central Bank on Wednesday decided to hike key rates by 25 basis points to maintain monetary stability.SAMA raised the repurchase agreement, or repo rate, to 4.50% and the reverse repo rate to 4%.The move follows the US Federal Reserve's decision to lift interest rates by 25 basis points.

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International

UAE Central Bank Hikes Rates by 25 Basis Points in September

The Central Bank of the United Arab Emirates raised the base rate applicable to the overnight deposit facility by 25 basis points to 3.9%, effective Thursday.Meanwhile, the interest rate applicable to borrowing short-term liquidity was maintained at 50 basis points above the base rate for all standing credit facilities, according to a Wednesday release.The CBUAE's decision follows the US Federal Reserve's move to increase the interest rate on reserve balances.

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