The index of industrial chains and imports of Switzerland grew by less than expected following August. According to the official statistical office, prices added 0.1%, while expected to increase by 0,3%. Annual inflation in the meantime remains at 0.5%, as the previous month, noting the very low inflationary pressures. Consumer inflation in August was also very weak: the annual rate of inflation was 0.3% after three months of dizzying fall (-0,1, -0,4, -0,7;). In this case the producer price index and import (often leading indicator) suggest that further inflationary pressure remains low.
At the upcoming meeting on Thursday, apparently, we do not see a tightening of monetary policy. Swiss National Bank still has the ability to influence inflation through a departure from the intervention. Less than a week ago, the euro / franc rewrote history at least once steam is adjusted upwards, being strongly resold in August, as there are buyers euro against the background of improved demand for risky assets. As shown in July, this languid correction may last more than a month, which, however, does not preclude building franc against other currencies.
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