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The strong Swiss franc obstructs the growth of consumption and retail sales
According to the calculations of market analysts; the strengthening of Swiss franc since 2008 causes an affect corresponding to a six percentage point interest rate increase to the Hungarian households with foreign currency loans.
According to the Monday study of Morgan Stanley; these are the reasons why that retail spending declined significantly in Hungary since 2008.
According to the analysis; retail sales in Hungary are below the 95 percent of the level measured in August 2008, while Poland is close to 115 percent in Poland – reports MTI.
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