Demonstrably weaker than median forecasts of +0.5%, +0.6% respectively.

Whoops, SNB won’t be overly happy. Strong swissy is helping build deflationary pressures. Increases likelihood of intervention to weaken swiss currency.

EUR/CHF up at 1.2590 from around 1.2525 when I arrived.

UPDATE: Also likely extends timeframe for any SNB monetary tightening