CHF: 2Q16/Domestic woes - ING

FXStreet (Bali) - Julien Manceaux, Senior Economist at ING, suggests that the Swiss domestic demand is the main growth problem.

Key Quotes

“With low confidence, consumer price deflation and higher unemployment, Swiss consumers will take time to be growth drivers again, while external demand should only recover slowly. The current mild growth outlook, low inflation and the situation on money markets still do not suggest further strong monetary actions by the SNB. However, we believe it is too soon to declare the job done.”