- Swiss National Bank Chair Jordan threatened FX intervention!
A couple of posts from Tuesday ICYMI while Powell was hogging the spotlight:
ECB Knot: ECB can be expected to keep raising rates for quite some time after March
- ECB can be expected to keep raising rates for quite some time after March
And, SNB Chairman: We cannot rule out that we will have to tighten monetary policy again
- We can use interest rates but also sell foreign currencies to get the right monetary conditions
Check out those linked posts for more.
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Week Ahead: Highlights include Fed, US CPI; ECB, BoE, SNB, Norges Bank
2022-12-12
MON: UK GDP Estimate (Oct), Chinese M2/New Yuan Loans (Nov).TUE: OPEC MOMR; BoE Financial Stability Report; German CPI Final (Nov), UK
Unemployment Rate (Oct)/Claimant Count (Nov), EZ ZEW (Dec), US CPI (Nov),
Japanese Tankan (Q4), New Zealand Current Account (Q3).WED: FOMC Policy Announcement, IEA OMR; UK CPI (Nov), Swedish CPIF (Nov), EZ
Industrial Production (Oct), US Export/Import Prices (Nov), Japanese
Exports/Imports (Nov).THU: ECB, BoE, SNB, Norges Bank & Banxico Policy Announcements, European
Council (1/2); Australian Employment (Nov), Chinese Retail Sales/Industrial
Production (Nov), US Retail Sales (Nov), NY Fed Manufacturing (Dec), IJC (w/e
5th Dec), Philadelphia Fed (Dec), Industrial Production (Nov), Australian Flash
PMIs (Dec), New Zealand Manufacturing PMI (Nov).FRI: Quad
Barclays forecasts EURCHF trading around parity for the next few quarters
2022-11-16
Barclays Research discusses CHF outlook and targets EUR/CHF around 0.97, 0.97, 0.98, and 1.00 by end of Q1, Q2, Q3, and Q4 of next year respectively.
SNB’s Jordan: Monetary policy is is still expansionary
2022-11-15
SNB’s Jordan, who has been chatting more in the NY session at least of late, is no the wires saying:monetary policy is a still expansionarywe have most likely to adjust monetary policy againinflation is very thorny and there is still a risk that inflation will rise furtherinflation rate is above our target now.
SNBs Jordan: IN 2023, sees Swiss growth weaker than this year. USDCHF trades near lows.
2022-11-15
SNB’s Jordan is on the wires saying that:He sees weaker growth in 2023 than this year.SNB still has credibility that inflation will moderateInflation has broadenedSees limited 2nd round wage effects in SwitzerlandThere is a great probablility that SNB will need to further tighten monetary policy.
Federal Reserve speakers coming up on Wednesday, 9 November 2022 – Williams, Barkin
2022-11-09
The talking heads at the US Federal Reserve have pivoted to talking about how high rates will go before they top out as against how quickly they will rise.
SNB’s Jordan: Central Bank Independence is crucial to fight inflation effectively
2022-10-12
SNB Jordan is on the wires speaks in general terms:
Central bank independence is crucial to fight inflation effectively.
CHF traders – heads up for a SNB speaker Wednesday, 5 October 2022 – Maechler
2022-10-05
Swiss National Bank monetary policymaker Andrea Maechler is speaking at 1130 GMT, at an event titled: After the interest rate change: high inflation, rising interest. How will it affect the Swiss economy?
SNB’s Maechler: Rising rates was intended to send a clear signal on inflation
2022-09-27
Rising rates was intended to send a clear signal on inflation
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