Switzerland is now flirting with deflation, causing a dilemma for its central bank [MSNBC.com]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: MSNBC.com
The street leading to Zytglogge (Clock Tower) in Bern, Switzerland.Urbazon | Istock | Getty ImagesSwitzerland could be atThe 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 outlook of 1.1%.Outgoing SNB chairman Thomas Jordan said at the time that the strong franc had had a "material impact" on the revisions, but downplayed the risk of deflation, noting thatBut analysts say it now looks increasingly likely that the bank will have to lean on 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% ... it would not
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