Producer and import prices data breached economist?s expectation. According to sources, high oil mineral prices were largely to blame. This data increased chances of rate hike in the September as well as December meeting. The Swiss National Bank is deeply concerned that a drop in the franc will fuel inflation by making imports furthermore expensive. Trade Balance figures tomorrow should help confirm the opinion. Alternatively, the outlook on the economy received an upgrade as UBS, Switzerland?s biggest investment bank, raised its economic growth forecast to 2.6% from 2.3% this year.
[B]Last 24 hours:
[/B]- Producer and import prices
Actual: 0.9%
Consensus: 0.4%
Previous: 0.9%
- Producer and import prices:
Actual: 2.8%
Consensus: 2.4%
Previous: 2.6%
[B]Next 24 hours:
[/B]- Trade Balance
Consensus: 1.10B
Previous: 0.63B