February 2015 Swiss HICP -0.4% vs 0.0% exp y/y

February 2015 Swiss inflation data report

• Prior -0.1%
• -0.4% vs 0.0% exp m/m. Prior -0.6%
• CPI -0.8% vs -0.6% y/y. Prior -0.5%
• -0.3% vs 0.0% exp m/m. Prior -0.4%

Not good news for Swiss core inflation which came in at 0.0% y/y vs +0.4% prior. If the slide continues then the SNB may be forced onto action