"While price pressures are moving in the right direction, deflationary concerns have clearly not disappeared"
- Peter Rosenstreich, chief foreign exchange analyst at Swissquote
Switzerland's consumer price inflation was flat in August, data showed on Wednesday. Consumer prices erased 0.5% in August from a previous year, after a drop of 0.7% in July, while were flat compared with the preceding month.
"While price pressures are moving in the right direction, deflationary concerns have clearly not disappeared," said Peter Rosenstreich, chief foreign exchange analyst at Swissquote.
"With slowing exports so pronounced in yesterday's data and risk emanating from Europe, we don't expect any change in policy or ratcheting down of protective rhetoric."
The Swiss blue-chip index SMI, a measure of the largest and most actively traded companies advanced 0.32 per cent to 6,445.82. The broader Swiss Performance Index rose 0.37 per cent to 5,956.87.
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