Swiss Inflation Slowdown Sparks Fresh Negative Rate Speculation
Switzerland’s inflation unexpectedly slowed to near zero, adding pressure on the central bank to push back against the strength of its currency and boost price growth.
Consumer prices rose 0.1% in October from a year ago, a weak reading that may boost speculation that the Swiss National Bank will be forced to cut interest rates back below zero as soon as next month.
- The median forecast in a Bloomberg survey was that inflation accelerated to 0.3% in October from 0.2%.
- None of the respondents had predicted a reading as low as 0.1%.
- Core inflation, which strips out volatile elements such as energy, also unexpectedly slowed last month, to 0.5% from 0.7%.
Consumer prices rose 0.1% in October from a year ago
Author summary: Swiss inflation slows down to near zero.
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