Weekly Macro & Markets View
What were the key global economic data releases, what is Zurich’s view and what does this mean for financial assets?
Weekly Macro and Markets View, Week 26
Highlights and View
- UK headline inflation falls back to
the BoE’s target of 2%
While the recent trend is reassuring, core and particularly service inflation remain too high. - The Swiss National Bank delivers a
second rate cut while lowering the
inflation forecast, with inflation now
seen at 1% in 2026
The strong franc and a broadening out of disinflationary pressures motivated further policy loosening, and the SNB has left the door open for further easing. - US services activity is holding up
while growth in manufacturing
remains modest
While most of the economic data were on the softer side, the Composite PMI stood at 54.6 in June, indicating solid growth.
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