Switzerland is now flirting with deflation, causing a dilemma for its central bank [CNBC]
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Source: CNBC
Analysts say it looks increasingly likely that the Swiss National Bank will have to use foreign currency intervention to prevent the country from slipping into a deflationary environment. “Our forecast is for inflation to fall as low as 0.1% in some months, so it would not take much to push that below zero,” Adrian Prettejohn, Europe economist at Capital Economics, said. Switzerland could be at risk of slipping into deflationary territory next year, as a stronger Swiss franc beleaguers policymakers' efforts to get a handle on price growth. The Swiss National Bank cut interest rates for the third time this year in September, citing the strength of the safe-haven currency as a key driver of the country's falling inflation rate, alongside lower oil and electricity prices. The central bank also revised down its forecasts, putting the average annual inflation rate for 2024 at 1.2% from 1.3%, while projecting price increases will grow by 0.6% in 2025, compared with a previous outlo
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