SWITZERLAND

摘要

Swiss GDP grew by a better-than-expected 0.5％ (q-o-q) and 2.1％ (y-o-y) in Q2. Private consumption, buoyed by low unemployment, advanced by 0.7％ (q-o-q) while gross fixed investment rebounded by 1.4％, its fastest pace of expansion in more than two years. Furthermore, Euro zone data has brightened, suggesting a possible recovery in Swiss exports over the coming months. The improving economy means the SNB is likely to maintain its currency cap of 1.20SwFr/euro at its next meeting on September 19. Inflation was unchanged at 0.0％ (y-o-y) in August.