The Swiss Producer and Import Price Index rose by 0.2% in March, slowing the annual growth rate to 2.1% from 2.7%. Producer price pressures are easing faster than expected (2.7% y/y expected). Easing inflation is a long-awaited signal for the SNB, which has raised its rate by 225 percentage points since the middle of last year to 1.5%, the highest since 2008.