Latest data released by SECO - 19 Dec 2017
- Prior 2017 GDP forecast 0.9%
- 2018 GDP 2.3%; prior forecast 2.0%
- 2019 GDP 1.9%
- 2017 CPI 0.5%; prior forecast 0.5%
- 2018 CPI 0.3%; prior forecast 0.2%
- 2019 CPI 0.7%
GDP forecasts are pretty much in line with the SNB, but seems like the Swiss govt does not agree with Jordan & co when it comes to inflation.
The SNB sees inflation in 2017, 2018, 2019 to be 0.5%, 0.7%, 1.1% respectively - very different compared to what the Swiss govt is expecting.
But as I mentioned, these are just general forecasts by SECO, and the SNB's view matters more - since they would be the ones acting via monetary policy. Just treat this release as something to keep a note of.
USD/CHF unphased and stuck in a very narrow range on the day, currently at 0.9853.
