Swiss National Bank's Martin anticipates inflation to remain elevated over coming quarters

Dhwani Mehta FXStreet

Swiss National Bank (SNB) Vice Chairman Antoine Martinis is speaking at the press conference following the June monetary policy assessment, in which the central bank held interest rates unchanged at 0%.

Key quotes

Anticipate inflation worldwide to remain elevated over coming quarters due to higher raw material prices.

Business and household sentiment deteriorated due to rising energy prices.

Global economic growth solid overall in first quarter, supported by AI spending

Baseline scenario subject to high uncertainty as situation in middle east still fragile, trade policy environment remains uncertain.

This will likely weigh on consumers' purchasing power, result in more moderate global economic growth.

Market reaction

At the press time, the Swiss Franc (CHF) is losing ground against the US Dollar (USD), with USD/CHF trading 0.09% higher on the day at 0.8006.

Swiss Franc Price Today

The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the weakest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.07%	0.02%	-0.03%	0.03%	-0.26%	-0.21%	0.06%
EUR	0.07%		0.10%	0.07%	0.10%	-0.19%	-0.19%	0.13%
GBP	-0.02%	-0.10%		-0.04%	0.00%	-0.27%	-0.27%	0.02%
JPY	0.03%	-0.07%	0.04%		0.08%	-0.24%	-0.23%	0.07%
CAD	-0.03%	-0.10%	-0.00%	-0.08%		-0.31%	-0.30%	0.00%
AUD	0.26%	0.19%	0.27%	0.24%	0.31%		0.01%	0.32%
NZD	0.21%	0.19%	0.27%	0.23%	0.30%	-0.01%		0.31%
CHF	-0.06%	-0.13%	-0.02%	-0.07%	-0.01%	-0.32%	-0.31%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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