Swiss housing market less worrying: central bank

Zurich

THE Swiss National Bank has grounds to be a "bit less worried" about the housing market, although risks remain high, vice-president Fritz Zurbruegg said.

With the central bank keeping interest rates low to prevent the Swiss franc from appreciating, officials have resorted to macroprudential measures, including a countercyclical capital buffer for banks, to address the housing sector. Growth in real estate prices weakened in the second quarter as lending volumes remained unchanged, the SNB said after its last policy assessment.