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SNB's Tschudin says Middle East conflict could curb global economic growth

BY Reuters | ECONOMIC | 05:00 AM EDT

ZURICH, March 19 (Reuters) - The outlook for the Swiss economy is uncertain with short-term growth potentially "rather subdued," Swiss National Bank governing board member Petra Tschudin said on Thursday.

"The main risk to the economic outlook for Switzerland is the development in the global economy," said Tschudin after the SNB's latest interest rate decision.

"In particular, the situation in the Middle East could curb global economic activity and increase upward pressure on the Swiss franc," she added. (Reporting by John Revill, Editing by Friederike Heine)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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