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Switzerland Policy Rate 1.25% in Jun-24

• The SNB cut its policy rate by 25 basis points to 1.25%, in line with consensus expectations, to support economic activity while maintaining price stability.
• Inflation dynamics, global economic conditions, and domestic economic performance will influence future interest rate decisions, which focus on ensuring inflation remains within the target range.
• The SNB remains vigilant and flexible, prepared to adjust monetary policy as necessary to respond to evolving economic indicators and inflation developments.

Switzerland Unemployment Rate 2.4% in May-24

- Switzerland's unemployment rate increased to 2.4% in May 2024 (seasonally adjusted), reflecting an ongoing deviation from average levels and indicating potential labour market weakness.
- Mixed economic indicators, including negative consumer confidence and contracting manufacturing activity, contrast with modest GDP growth and robust retail sales, highlighting underlying economic challenges.

Switzerland CPI Inflation 1.4% y-o-y (consensus 1.4%) in May-24

- Switzerland's CPI inflation rate remained steady at 1.4% y-o-y in May 2024, matching consensus expectations and the previous month's rate, with minor deviations from historic averages.
- The 0.3% m-o-m CPI increase in May 2024, alongside a 0.6% m-o-m PPI increase in April 2024, indicates controlled price transmission and effective measures ensuring consumer price stability.

Switzerland CPI Inflation 1.4% y-o-y (consensus 1.1%) in Apr-24

- Switzerland's CPI inflation rate for April 2024 increased to 1.4% year-on-year, surpassing market expectations of 1.1%.
- The month-on-month change in CPI for April 2024 increased to 0.3%, which is a brisk annualised pace.