MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

March CPI Below Consensus

SWITZERLAND DATA
Data BulletDataHomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

Swiss headline CPI was 1.0% Y/Y and 0.0% M/M in March (vs 1.2% Y/Y, 0.6% M/M prior). Analysts had forecasted a headline print of 1.3% Y/Y and 0.3% M/M.

  • Core CPI also printed at 1.0% Y/Y, with the monthly reading at 0.1% M/M (vs 1.1% Y/Y, 0.7% M/M prior).
  • Domestic product inflation was 1.8% Y/Y and -0.2% M/M (vs 1.9% Y/Y, 0.5% M/M prior), while imported product inflation remained negative on an annual basis at -1.3% Y/Y and 0.7% M/M (vs -1.0% Y/Y, 1.0% M/M prior).
  • This means Q1 Swiss headline CPI averaged 1.17% Y/Y, broadly in line with the SNB’s March monetary policy meeting projections (of 1.2%).
  • The CHF has unsurprisingly weakened on the release, with EURCHF 0.5% higher at typing. The cross has now weakened around 1.6% since immediately before the March monetary policy decision, where the SNB unexpectedly cut rates 25bps to 1.5%.
  • Per the press release: “Prices for international package holidays and air transport increased, as well as those for clothing and footwear. In contrast, prices for supplementary accommodation and cars decreased, as did those for hire of private means of transport”.

193 words

To read the full story

Close

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.

Swiss headline CPI was 1.0% Y/Y and 0.0% M/M in March (vs 1.2% Y/Y, 0.6% M/M prior). Analysts had forecasted a headline print of 1.3% Y/Y and 0.3% M/M.

  • Core CPI also printed at 1.0% Y/Y, with the monthly reading at 0.1% M/M (vs 1.1% Y/Y, 0.7% M/M prior).
  • Domestic product inflation was 1.8% Y/Y and -0.2% M/M (vs 1.9% Y/Y, 0.5% M/M prior), while imported product inflation remained negative on an annual basis at -1.3% Y/Y and 0.7% M/M (vs -1.0% Y/Y, 1.0% M/M prior).
  • This means Q1 Swiss headline CPI averaged 1.17% Y/Y, broadly in line with the SNB’s March monetary policy meeting projections (of 1.2%).
  • The CHF has unsurprisingly weakened on the release, with EURCHF 0.5% higher at typing. The cross has now weakened around 1.6% since immediately before the March monetary policy decision, where the SNB unexpectedly cut rates 25bps to 1.5%.
  • Per the press release: “Prices for international package holidays and air transport increased, as well as those for clothing and footwear. In contrast, prices for supplementary accommodation and cars decreased, as did those for hire of private means of transport”.