UBS AG (UBS) Is Positive About Swiss Economy

According to a report published by UBS (NYSE: UBS), Swiss CPI is likely to finish this year with a figure well above Zero. November CPI reading showed 0.2% month-on-month increase, which took economists by surprise. This increase is basically due to the wearing out of low base price effect caused by low energy prices in Y2008.

October data for foreign and domestic hotel stays in Switzerland showed a positive trend and thus bode well for tourism sector. Hotel stays had suffered a major setback in the beginning of Y2009. However, during the latter part of year, it witnessed solid rebound. At the current rate, domestic hotel stays are likely to reach all-time high in level terms. Swiss treasury is planning to raise 4.4 bn CHF in Y2010. USDCHF showed a jump due to positive news about US-Non-Farm-Payrolls.