Swiss April CPI +0.1% m/m, +0.3% y/y
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