Switzerland October CPI +0.6% vs +0.8% y/y expected

• Prior +0.8%
• CPI m/m -0.1% vs -0.3% expected
• Prior m/m 0.0%
• Core CPI Y/Y +0.8% vs +1.0% prior.

That's a big miss and it further reinforces the need for the SNB to move faster on cuts. The market will likely favour a 50 bps cut for December now.