CHF/NOK settles above 2-week low, posts weekly gain
The CHF/NOK currency pair settled above recent low of 12.4160, its weakest level since September 18th, after data showed Swiss CPI inflation had remained stable.Consumer prices in Switzerland went up
The CHF/NOK currency pair settled above recent low of 12.4160, its weakest level since September 18th, after data showed Swiss CPI inflation had remained stable.
Consumer prices in Switzerland went up 0.2% year-on-year in September, matching the rate in the prior two months. The latest figure came below market consensus.
The Swiss National Bank had said it forecast average inflation at 0.2% for 2025.
The SNB left its policy rate without change at 0% at its September 25th meeting. This way, borrowing costs remained at their lowest level since August 2022.
The central bank also signaled openness to more rate cuts in case deflation returns.
Meanwhile, the number of people registered as out of work in Norway went up to a seasonally adjusted 64,400 in September from a revised 64,300 in August.
It has been the highest number since January 2022, data showed.
The exotic Forex pair gained 0.21% for the week.
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