Swiss Franc Falls Following Worse-Than-Expected CPI Data
- Soft Swiss CPI Report in February
- Swiss Franc Falls Against the US Dollar After Data Crossed the Wires
- SNB Sees Slow Inflation Rise Through 2015
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Pushing the economy toward on-target 2 percent inflation remains the Swiss National Bank’s (SNB) top priority. Yet, the latest Swiss CPI figures disappointed in February as both the benchmark year-on-year inflation rate and month-on-month rate missed estimates. The inflation gauge showed that year-on-year growth fell 0.1 percent, and missing estimates calling for a print of 0.0 percent. The month-on-month inflate rate reported 0.1 percent. The Swiss Franc fell against the US Dollar following the release as inflation weighs heavy on monetary policy for the SNB. As of now, the Swiss National bank foresees its baseline inflation rate below 1 percent, and well below its 2 percent target rate through the next 2 years.
USD/CHF 5-Minute Chart. March 7, 2014
Charted created by David Maycotte using Marketscope 2.0.
-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to email@example.com.
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