Swiss September CPI hits +1.0% year-on-year, matching expectations
Swiss CPI for September rose 1.0% y/y as expected, with core inflation at 0.5%.
Swiss CPI for September rose 1.0% y/y as expected, with core inflation at 0.5%.
The USDCHF pair has posted six consecutive daily gains. It sits near the 0.83485 resistance level, which buyers have twice failed to hold above.
SNB President Martin Schlegel said Swiss inflation forecasts are near the middle of the target range. The central bank held its rate steady at zero.
The SNB held rates at 0% and modified its intervention stance; USDCHF climbed to its highest since May 2025.
The SNB is set to hold rates at 0% while focusing on inflation and franc strength, as Switzerland remains concerned about deflation.
Swiss inflation ticked up in August on higher petrol costs, with annual CPI doubling to 0.8% and core inflation rising slightly to 0.4%.
All Swiss bankers surveyed expect the SNB to hold its policy rate at 0% through 2026; 60% see it staying through 2027. The rest anticipate rate hikes in 2027.