OECD report says Swiss economy to underperform

The Swiss economy is poised to grow slower than expected this year because of lusterless productivity gains, meaning the Swiss central bank should not raise interest rates until a recovery has been established, the OECD said in a report published Friday 6 January.

There had been hopes for a stronger pick up in 2006 after a lull in exports and high oil prices had limited growth in 2005 to "only 1.25 percent", the Organisation for Economic Co-operation and Development said.

On interest rates, the