Tag Archive: SNB FX interventions

SNB’s Maechler: Reaffirms Pledges on FX and Intervention, Negative Rates

SNB jawboning CHF lower as concerns mount over global growth fears and a flight to safety. EUR/CHF is already trading close to the lows of the year. The Swiss National Bank's Andréa M Maechler, Member of the Governing Board, has crossed the wires saying that ‘any intervention’ requires an analysis of cost/benefits - plenty of jawboning going on here.

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Europe chart of the week – SNB FX intervention

In the wake of the financial crisis, the Swiss National Bank (SNB) increased massively the monetary base to provide liquidity and limit the Swiss franc’s appreciation. The expansion in the monetary base can essentially be seen in the form of an increase in sight deposits held by domestic Swiss banks at the SNB.

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