The Swiss stock market opened lower on Thursday, influenced by a slowdown in consumer price inflation, which rose by 0.8% year-on-year in September. The leading SMI index fell by 0.20%, with 25 of the 30 major stocks declining, while Sandoz, Novartis, and Givaudan were among the few gainers. Analysts anticipate a potential rate cut by the Swiss National Bank in December 2024 due to declining inflation forecasts.
Inflation in Switzerland slowed to 0.8% year-on-year in September, down from 1.1% in August, driven by a significant drop in tariffs for imported goods. The consumer price index fell by 0.3% month-on-month, raising concerns about potential deflation as local product prices rose and housing rents continued to increase. The Swiss National Bank has lowered its key rate to 1% and indicated that further monetary easing may be necessary amid geopolitical tensions and a strong franc.
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