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New inflation statistics for February show that the main figure is negative again in Switzerland. Kiran Sakaria, a strategist at Handelsbanken, analyzes the outlook for the Swiss franc. CHF/SEK trades at 10.158.

Key quotes

“The main reason for the negative inflation numbers, naturally, is energy prices; adjusted for this, the inflation figure was closer to the expected level, but in any event, the rate is close to zero.” 

“In recent weeks, the franc has been very stable, and the exceptionally low-interest-rate appears to be deterring those who would otherwise be seeking a safe haven in the currency in worrying times.”

“The proximity of Switzerland to northern Italy may also be affecting the value of the franc. We foresee lower CHF/SEK.”


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