- Inflation may ease upward pressure on CHF – Scotiabank
Noticias del mercado
15 septiembre 2023
Inflation may ease upward pressure on CHF – Scotiabank
The CHF is the best performing major currency so far this year, gaining 3.5% on the USD, the best among the core peers. Economists at Scotiabank analyze Franc’s outlook.
The trend decline in EUR/CHF may stabilize around the 0.95 point
While inflation has moderated somewhat and has clearly moved back below 2%, policymakers appear to be leaning towards some additional ‘insurance’ tightening to take the SNB’s key policy rate to 2%.
Easing inflation pressures may spill over into the currency’s broader trend. Policymakers have favoured a somewhat stronger exchange rate to help dampen price pressures.
The trend decline in EUR/CHF (more than 5.5% this year) may stabilize around the 0.95 point.
We anticipate a EUR rebound to 0.98 by year-end.
USD/CHF – Q3-23 0.88 Q4-23 0.88 Q1-24 0.87 Q2-24 0.87
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