Tag Archive: Macroeconomics

Stablecoins could hinder monetary policy: Swiss central bank

2026-10-01

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2026-10-01

Stablecoins could complicate the transmission of monetary policy, one of the Swiss National Bank’s (SNB) three interest rate-setters said, calling for a regulation that safeguards the influence of policymakers. “Modernising the payment system is sensible,” governing board member Petra Tschudin said Wednesday at an event in Zurich. But large stablecoins that are not integrated in …

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Swiss central bank sells francs to counter haven effect

2026-09-30

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2026-09-30

The Swiss National Bank (SNB) continued to sell francs in the second quarter, following through on its “increased willingness” to intervene against a stronger currency. Switzerland’s central bank purchased foreign exchange worth CHF1.4 billion ($1.7 billion) from April through June, according to data on Wednesday. That’s down from the CHF3.9 billion it bought in the …

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Swiss interest rate remains at 0%

2026-09-24

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2026-09-24

The Swiss National Bank (SNB) decided on Thursday to keep its key interest rate at 0%, where it has been since June 2025. The central bank made its quarterly decision as inflation remains under control in Switzerland. "If necessary, the [SNB] is prepared to intervene in the foreign exchange market to ensure appropriate monetary conditions," …

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Swiss franc magnet for carry trade

2026-09-21

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2026-09-21

The carry trade phenomenon, one of the most widespread strategies on the foreign exchange markets, has recently been drawing even more attention to the Swiss franc. Historically dominated by the Japanese yen as the funding currency, this type of transaction may now also be more attractive using the Swiss franc, thanks to the Swiss National …

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Switzerland raises economic growth forecast significantly

2026-09-17

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2026-09-17

According to the federal government’s economists, the Swiss economy is likely to perform significantly better than previously expected. They are therefore raising their forecast substantially. The federal government’s expert group has revised its forecast for 2026 to predict growth in real gross domestic product (GDP, adjusted for sporting events) of 1.7%, up from the previous …

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Revolut applies for a banking licence in Switzerland

2026-09-16

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2026-09-16

The British ‘neobank’ Revolut, whose services are already used by over a million Swiss residents, is now applying for a Swiss banking licence. The online bank plans to invest more than CHF150 million in the Swiss market over the next five years. The granting of a licence by the Swiss Financial Market Supervisory Authority (FINMA) …

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China’s high-tech rise puts competitive pressure on Switzerland

2026-09-10

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2026-09-10

Economists at Swiss bank UBS view China’s economic rise as a major challenge for the Swiss economy. The US tariffs, on the other hand, are likely to have only a temporary impact. Over the past decade, China has increasingly transformed itself from the "world’s factory" into a hub for high technology. For example, the country …

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Inflation is now out of the control of central banks

2022-07-01

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2022-07-01

One of the reasons people decide to buy gold bullion or add silver coins to their portfolio is because they cannot be devalued. No one can suddenly decide to print more gold or silver! Sadly, this is exactly what happens with currencies around the world. And the last two decades have been prime examples of this.

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Keith Weiner Gets Interviewed

2019-07-03

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2019-07-03

Our economic views and unique product are generating buzz. There have been a number of interviews recently (more will be posted soon). Lobo Tiggre interviewed Keith Weiner (video) about the unique Monetary Metals business model to pay interest on gold.

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Bubble Watch: Warning Signs That The Everything Bubble Will Burst in 2018

2017-12-20

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2017-12-20

Producer Price Indexes, Dec 2000 - 2017
I believe 2018 will be the year inflation arrives. The reason, as I’ve noted throughout mid-2017, is that multiple Central Banks, particularly the European Central Bank (ECB), Bank of Japan (BoJ) and Swiss National Bank (SNB) have maintained emergency levels of QE and money printing, despite the fact that globally the economy is performing relatively well.

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Jim Grant: “Markets Trust Too Much In The Presence Of Central Banks”

2017-12-15

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2017-12-15

James Grant, Wall Street expert and editor of the renowned investment newsletter «Grant’s Interest Rate Observer», warns of the unseen consequences of super low interest rate and questions the extraordinary actions of the Swiss National Bank. Nearly ten years after the financial crisis, extraordinary monetary policy has become the norm.

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Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price

2017-12-15

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2017-12-15

Year-end rate hike once again proves to be launchpad for gold price. FOMC follows through on much anticipated rate-hike of 0.25%. Spot gold responds by heading for biggest gain in three weeks, rising by over 1%. Final meeting for Federal Reserve Chair Janet Yellen. Yellen does not expect Trump's tax-cut package to result in significant, strong growth for US economy. No concern for bitcoin which 'plays a very small role in the payment system'.

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The Savings Rate Conundrum

2017-11-08

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2017-11-08

Median Disposable Income and Debt Ratio, 1967 - 2015
The economy is booming. Employment is at decade lows. Unemployment claims are at the lowest levels in 40-years. The stock market is at record highs and climbing. Consumers are more confident than they have been in a decade. Wages are finally showing signs of growth.

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Dollar Surge Continues Ahead Of Jobs Report; Europe Dips As Catalan Fears Return

2017-10-07

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2017-10-07

CBOE VIX Gauge, 1990 - 2019
World stocks eased back from record highs and fell for the first time in eight days, as jitters about Catalonia’s independence push returned while bets on higher U.S. interest rates sent the dollar to its highest since mid August; S&P 500 futures were modestly in the red - as they have been every day this week before levitating to record highs - ahead of hurricane-distorted nonfarm payrolls data (full preview here). U.S. jobs report will also be...

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Swiss National Bank Bubble Regains Lead Over Bitcoin

2017-09-22

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2017-09-22

Bitcoin and Swiss National Bank Stock
But as Bitcoin rebounded from its China challenges, it overtook The SNB once again as bubbliest bubble. However, a 13% spike in the share price of The Swiss National Bank today has put an end to that leaving the central bank back in first place among the melter-uppers...

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Key Events In The Coming Busy Week: Fed, BOJ, BOE, SNB, US Inflation And Retail Sales

2017-06-13

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2017-06-13

Known Unknowns
After a tumultous week in the world of politics, with non-stop Trump drama in the US, a disastrous for Theresa May general election in the UK, and pro-establishment results in France and Italy, this is shaping up as another busy week ahead with multiple CB meetings, a full data calendar and even another important Eurogroup meeting for Greece.

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The Internet Helped Kill Inflation In America, Says Credit Suisse

2017-06-02

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2017-06-02

Burkhard Varnhlot
Whether or not San Francisco Fed President John Williams is right about US inflation and employment being about as close to the central bank’s targets as investors have seen - as he told CNBC two days ago - is irrelevant: The central bank is going to raise interest rates two more times this year no matter what happens to consumer prices, says Credit Suisse Chief Investment Officer for Switzerland Burkhard Varnholt.

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Are Rate Hikes Bad For Gold?

2017-02-24

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2017-02-24

Federal Funds Target Rate
Here are two different looks at Fed rate hikes since Volcker. The charts are the same, but one presentation is a lot funnier than the other. Let’s take the fist chart and see what correlations exist between rate hikes and the US dollar index.

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WTI Crude tumbles To $49 Handle, Erases OPEC/NOPEC Deal Gains

2016-12-15

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2016-12-15

WTI Crude
But, but, but... growth, and inflation, and supply cuts, and growth again... Well that de-escalated quickly... As Libya restarts exports and The Fed sends the dollar soaring so WTI crude prices just broke back to a $49 handle for the first time since Dec 8th.

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Former Treasury Secretary Summers Calls For End Of Fed Independence

2016-11-06

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2016-11-06

Larry Summers
At an event in Davos, Switzerland earlier today, Former U.S. Treasury Secretary, Larry Summers, argued that Central Bank independence from national governments should be scrapped in favor of a coordinated effort between politicians, central bankers and treasury to engineer inflation. Seems reasonable, right?...what could possibly go wrong?

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