{"id":125298,"date":"2026-09-03T16:50:15","date_gmt":"2026-09-03T16:50:15","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/125298\/"},"modified":"2026-09-03T16:50:15","modified_gmt":"2026-09-03T16:50:15","slug":"swiss-franc-hot-inflation-and-snb-path-bbh","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/125298\/","title":{"rendered":"Swiss Franc: Hot inflation and SNB path \u2013 BBH"},"content":{"rendered":"

Brown Brothers Harriman\u2019s (BBH) Elias Haddad reports the Swiss Franc (CHF) is the second-best performer today after the Japanese Yen as Swiss inflation surprised to the upside in August, reinforcing Swiss National Bank (SNB) hike expectations. Despite this, markets still fully price a first 25 bps hike only in June 2027, and Haddad notes current low rates and contained inflation remain a headwind for the Franc over the quarter.<\/p>\n

Swiss inflation and Franc performance<\/p>\n

“CHF is today\u2019s second best performing major currency, behind JPY. Swiss inflation ran hot in August reinforcing SNB rate hike expectations.”<\/p>\n

TMGM Analysis: Financial Market News, Economic Calendar & Market Insights<\/a><\/p>\n

“Headline CPI rose more than expected to 0.8% y\/y (consensus: 0.5% y\/y) vs. 0.4% in July. Headline inflation is the highest since September 2024 and above the SNB\u2019s Q3 forecast of 0.6% y\/y. Core CPI inflation also surprised to the upside at 0.4% y\/y (consensus: 0.3%), following four straight 0.3% readings.”<\/p>\n

“That\u2019s an ongoing headwind for CHF. CHF is the worst performing G10 currency so far this quarter.”<\/p>\n

“The swaps curve continues to fully price in a first 25bps hike to 0.25% in June 2027. The SNB has plenty of room to keep rates at 0.00% for some time, given that inflation remains well within the bank\u2019s price stability mandate of less than 2% per annum. “<\/p>\n

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)<\/p>\n","protected":false},"excerpt":{"rendered":"Brown Brothers Harriman\u2019s (BBH) Elias Haddad reports the Swiss Franc (CHF) is the second-best performer today after the…\n","protected":false},"author":2,"featured_media":125299,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[4],"tags":[44508,3665,41,17,44507,1267],"class_list":["post-125298","post","type-post","status-publish","format-standard","has-post-thumbnail","category-switzerland","tag-cfd","tag-forex","tag-swiss","tag-switzerland","tag-tmgm","tag-trading"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/117208143048561639","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/125298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=125298"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/125298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/125299"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=125298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=125298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=125298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}