The Swiss inflation rate in October dropped to 0.6% for more than three years, lower than expected.
Swiss Federal Statistics Office data shows that Switzerland's October consumer price index (CPI) inflation rate fell to 0.6%, the lowest level since June 2021, below the market's expected 0.8%, compared to 0.8% in September. Housing and energy inflation slowed to 3.5%, while transportation prices fell by 2.7%. Compared to the previous month, CPI slightly decreased by 0.1%, not rising for the fifth consecutive month, reasons include decreases in hotel prices and international tour package prices. Prices of rbob gasoline, diesel, and fruits and vegetables also decreased.
Swiss inflation drops to the lowest level in three years, the central bank is determined to cut interest rates in December.
In October, the inflation rate in swiss franc decreased to the lowest level in more than three years, indicating that the Swiss National Bank will further cut interest rates in both this year and 2025.
Hong Kong Inland Revenue Department: Reducing the tax reserve certificate interest rate to 0.7167%, effective from November 4th.
The Hong Kong Inland Revenue Department announced today that starting from November 4, 2024, the new annual rate for interest on tax reserve certificates will change from the current 0.8000% to 0.7167%, which means that under the new rate, 0.0597 yuan of interest can be earned per 100 yuan per month.
Hong Kong's third-quarter local gross domestic product is estimated to increase by 1.8% year-on-year.
The Census and Statistics Department of the Hong Kong government released the preliminary estimate of the Gross Domestic Product for the third quarter of 2024.
Hong Kong's GDP grew by 1.8% year-on-year in the third quarter, exceeding expectations.
Great Wall News October 31st｜Hong Kong's third quarter GDP annual rate initial value 1.8%, expected 3.1%, previous value 3.30%; quarterly initial value -1.1%, expected 0%, previous value 0.40%.
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