Swiss central bank warns downturn could get worse

The chairman of the Swiss National Bank (SNB) has ruled out a sharp economic upswing in Switzerland in 2003. Continued risks, Jean-Pierre Roth said, cannot be underestimated.

Source: Swiss Info

"The risks of a renewed worsening of the situation in Switzerland and abroad remain and are not to be underestimated," said Roth.

In a downcast assessment of the months and year ahead, Roth warned that Swiss firms faced worsening trading conditions and that the government would have less money.

"Compared t