GENEVA, Nov 18 (Reuters) - The Swiss economy should return to positive growth in the fourth quarter, Swiss National Bank Vice-Chairman Philipp Hildebrand said on Wednesday.
"The Swiss economy has returned to growth. The fourth quarter will be a quarter of growth," said Hildebrand, who takes over as SNB chairman next year, in response to a question after giving a speech at the University of Geneva.
The Swiss National Bank forecasts a decline in gross domestic product of 1.5 to 2.0 percent in 2009. The economy contracted 0.3 percent on the quarter in the second quarter and third quarter data is due out on Dec. 1.
SNB Chairman Jean-Pierre Roth, who also said in September he expects positive growth in the fourth quarter, said on Tuesday 2010 will still be difficult for the Swiss economy, which will not recover from the world's recession quickly.[ID:nLH602568]
The SNB's next policy meeting is on Dec. 10. The bank has cut its target for the 3-month Swiss franc LIBOR to 0.25 percent and has also intervened on foreign exchange markets to stop the Swiss franc rising against the euro and to fight deflation. (Reporting by Jonathan Lynn, writing by Emma Thomasson)