Swiss National Bank’s Zurbruegg Says Not Focus of Monetary Policy to Curb Risk to Financial System Vulnerabilities

The Swiss National Bank Vice Chairman Fritz Zurbrügg in a speech in Geneva Tuesday said the focus of monetary policy is price stability and economic developments, and not curbing financial system vulnerabilities”. He added “Moreover, we have observed an increase in affordability risks over recent years.” “In Switzerland, vulnerabilities in the residential real estate and mortgage markets have increased since the onset of the pandemic,” Zurbruegg said in a speech in Geneva. “Moreover, we have observed an increase in affordability risks … Continue reading “Swiss National Bank’s Zurbruegg Says Not Focus of Monetary Policy to Curb Risk to Financial System Vulnerabilities”

Swiss National Bank Leaves Rates Unchanged at -0.75% as expected, Raises Inflation Forecast

The Swiss National Bank kept negative interest rates unchanged at -0.75% for sight deposits in December. The SNB made no key changes in their language as they continue to keep negative rates and reiterated that the Swiss franc remains “highly valued”. Monetary policy assessment of 16 December 2021Swiss National Bank maintains expansionary monetary policy Interest Rates Sight Deposits -0.75% UNCH 3-month Libor lower target range -1.25% 3-month Libor upper target range -0.25% Statement Highlights September 2021 SNB will remain active … Continue reading “Swiss National Bank Leaves Rates Unchanged at -0.75% as expected, Raises Inflation Forecast”

Japanese Yen and Swiss Franc Attract Flight To Safety Bids on Virus Fears

The Japanese yen and the Swiss franc received safe haven bids on Friday as the global markets panicked on news of the Covid Omicron variant. In a thin market it also gave traders an opportunity to book profits after an extended rally in the US dollar. On the flip side commodity beneficiaries and the growth sensitive Australian dollar and Norwegian krone sold off. Moves weren’t just against the dollar. Whilst the euro rose 0.97 percent to a high of US$1.1312, … Continue reading “Japanese Yen and Swiss Franc Attract Flight To Safety Bids on Virus Fears”

Swiss National Bank Leaves Rates Unchanged at -0.75% as expected, Franc Remains Highly Valued

The Swiss National Bank kept negative interest rates unchanged at -0.75% for sight deposits in September. The SNB made no key changes in their language as they continue to keep negative rates and reiterated that the Swiss franc remains “highly valued”.

Swiss National Bank Tests How to Issue a Central Bank Digital Currency

The Swiss National Bank announced they are to test a transfer of central bank digital currency funds. “We will try some cross-border functionality.” “There will be another central bank and another currency other than the Swiss franc. ” said Thomas Moser of the SNB’s governing board. The test follows the researxh paper “How to Issue a Central Bank Digital Currency”

Switzerland National Bank Sets No Upper Limit For New Covid-19 Fund

The Swiss National Bank in response to the Coronavirus Pandemic set up a refinancing facility and deactivated the counter-cyclical buffer for Swiss Banks Tuesday. The SNB announced new packages to attempt to protect the Swiss economy.

Swiss National Bank Leaves Negative Rates Unchanged, Franc Remains Highly Valued

The Swiss National Bank kept negative interest rates unchanged at -0.75% for sight deposits. The SNB made no key changes in their language as they continue to keep negative rates and reiterated that the Swiss franc remains “highly valued”.

Switzerland SNB Foreign Exchange and Swiss Franc Investment Update

The Swiss National Bank Released it’s Foreign Exchange Reserves and Swiss Franc Bond Investments (end of Q3 2017) and filed its U.S. stock holdings with the SEC. 40% of it’s investments are in the euro with 35% in the U.S. Dollar. 68% in Bonds and 20% in stocks.