The Swiss National Bank surprise 50 basis point hike has isolated Japan as the lone adherent to extremely easy monetary policy. Prior was -0.75% and raised to -0.25%, so still negative rates which would be a nod to trying to limit Franc strength. The rate hike is to counter increased inflationary pressure The SNB cannot rule out further rate hikes to stabilize inflation Monetary policy assessment of 16 June 2022Swiss National Bank Tightens Monetary Policy Highlights Raises rates 50 bps to -0.25% … Continue reading “Swiss National Bank Surprise 50 Basis Point Rate Hike, Raises to Stabilize Inflation”
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”
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”
The global stock bull market has many success storys, one of the biggest is the Swiss National Bank (SNB) which has been stealthly investing internationally with it’s foreign currency holdings. A fifth of the foreign currencies are invested in equities throughout Europe, the US and emerging economies. .
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”.
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”
Currencies reacted much like futures and commodities in the first qurter of 2020. The black swan Covid -19 event saw the biggest gainers the safehaven currencies led by the Japanese Yen, Swiss Franc and US dollar.
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.
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”.
SNB Governing Board Member Andrea Maechler said on Thursday the Swiss central bank is willing to intervene in FX market as necessary. The Swiss franc has been rallying against the euro on safe-haven concerns.