Switzerland investor sentiment continues to worsen

An indicator of investors’ sentiment in Switzerland has been reported in negative territory for a fifth consecutive month in December.

The gauge came in at a reading of -20 in December, down from -12.4 in the prior month, data by UBS & CFA Society Switzerland showed.

Participants in the survey have lowered their expectations for both short-term and long-term interest rates, after the out-sized rate cut by the Swiss National Bank this month.

“The assessment of the long-term outlook has not changed significantly since September, with Swiss growth most likely 1-2% and inflation within the SNB’s target range of 0-2%,” UBS said.

The Swiss Franc was 0.32% weaker on the day against the Euro, with the EUR/CHF currency pair last trading at 0.9334.