Latest forecasts released by SECO - 12 October 2020
- Prior forecasts (June)
- 2021 GDP +3.8% (previously +4.9%)
- 2020 CPI -0.7% (previously -0.9%)
- 2021 CPI -0.1% (previously -0.3%)
The better revision to this year's economic forecast is to account for the better-than-expected recovery and that chips away at the growth pace next year. That said, the government says there are risks to the forecasts involving the virus and Brexit.
The upward tick to the inflation forecast is a better development but without any change to that from the SNB for the most part, there shouldn't be any change to the franc narrative.
