Switzerland June CPI +1.3% vs +1.4% y/y anticipated

• Prior +1.4%
• Core CPI +1.1% y/y
• Prior +1.2%

If the SNB needs a reason to pause on rate cuts, they certainly can point to this. At the same time, the inflation trend here fits with the change in their decision to go from FX sales to FX purchases in Q1 this year. That considering core inflation has been cooling and keeping back below the key 2% mark in recent months.

This article was written by Justin Low at www.forexlive.com.