The figures released by the Swiss Federal Statistics Office FSO just before showed that inflation in Switzerland rose to 0.5% in June on a monthly basis, compared to 0.7% in the May reading and better than expectations that indicated a growth of about 0.4%.
The annual index, in turn, rose to 3.4% in June, compared to 2.9% in May, while expectations were for a rise of 3%.
The Swiss National Bank had suddenly raised interest levels at its meeting two weeks ago from -0.75% to -0.25% after inflation rose to 2.9% in May, which raised inflationary pressures, which forced the bank to take the step of raising interest rates, stressing that more increases In interest, it will be necessary in the future to achieve price stability, and accordingly, the rise in inflation in June by more than expectations in June opens the door for the bank to continue to tighten monetary policy and raise interest rates in the coming period.
02/11/2024
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