News and economic event analysis disclaimer: This fundamental report is not advice or a recommendation to trade or invest, it is educational and general information only. Don’t blindly buy and sell the markets/products discussed in this article, do your own research and be aware of the risks and rewards.
CHF Main Focus This Week:
- Economic Data Type: none
- Server Time: none
- Quick view: none
Quick View: Dovish
- SNB maintained its interest rate unchanged at -0.75%, in line with market expectations.
- The next SNB meeting was on September 19, 2019.
- Focused economic data is Inflation and Gross Domestic Product.
- The policymakers following the policy say that accommodative monetary policy is still needed following the still high CHF and global market uncertainty.
- SNB expects inflation in 2019 to rise to 0.6% against 0.3% seen in March and to 2020 at 0.7% versus 0.6% seen in March.
Main Economics Data of SNB
- Gross Domestic Product (GDP) in Switzerland grew 1.7% in the first quarter of 2019, up from 1.5% in the previous quarter.
- The annual inflation rate of Switzerland declined to 0.6% in May 2019 from 0.7% in the previous month, and was similar to market expectations.
Expected Bias: CHF Bearish
- Unpredictable market sentiments will lead to demand for safe-haven health.
- The ECB states the willingness to cut interest rates and this may affect SNB to act.