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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SWITZERLAND DATA
MNI (London)
SWITZERLAND DEC CPI -0.2% M/M (FCST -0.1%); NOV 0.0% M/M
SWITZERLAND DEC CPI +2.8% Y/Y (FCST +3.0%); NOV +3.0% Y/Y
- Swiss CPI came in softer than expected in December, as prices deflated by -0.2% m/m and ticked down by 0.2pp to +2.8% y/y against expectations of headline inflation holding steady at +3.0% y/y for a third consecutive month.
- Prices fell on the month across heating oil and fuel, along with some food and medicine costs. Service prices continued to accelerate.
- This adds to promising news for the SNB as Switzerland edges further away from the 29-year high of +3.5% y/y in August.
- However, core inflation ticked up another 0.1pp to +2.0%, with core prices up +0.1% m/m. As such, the SNB is likely to continue it's hiking cycle into 2023. After slowing to a 50bp hike in December, taking the Policy Rate to 1.00%, with further rate hikes likely required to ensure price stability.
Source: Statistics Switzerland
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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