Switzerland Stocks Fall Ahead of Federal Reserve Meeting
Credit Suisse Group AG (CSGN) and Julius Baer Group Ltd. lost 1.4 percent and 1.1 percent, respectively. Cie. Financiere Richemont SA, the world’s largest jewelry maker, fell 1.6 percent.
The SMI (SMI) retreated 0.4 percent to 8,000.01 at 10:12 a.m. in Zurich. The measure has still surged 17 percent this year as central banks around the world pledged to leave interest rates low for a prolonged period of time. The broader Swiss Performance Index lost 0.3 percent today.
The Federal Open Market Committee meets Sept. 17-18 and economists in a Bloomberg survey this month forecast policy makers will reduce the monthly pace of bond purchases by $10 billion, to $75 billion. That’s down from expectations of a $20 billion reduction in a July survey.
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