Tag Archive: Swiss National Bank
History of SNB monetary policy assessments vs. economic data
History of SNB monetary policy assessments vs. the Swiss gross national product (GDP) and gross national income (GNI).
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Ways to the Northern Euro
Two ways for building the Northern euro, exit of Southern members or slow creation of Northern euro with currency interventions of central banks.
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Because They Knew What They Were Doing: The Parallels between European and SNB Leaders
Similarly as European leaders knew what they were doing with the euro, namely introducing a not feasible currency, Swiss National Bank did between 2005 and 2008, namely the absolutely wrong thing.
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Correlations Between the Swiss Franc, Gold and the German Economy
In yesterday’s post we focused on several economic events that weakened the position of the Swiss National Bank (SNB). In this extended replacement post, we give several reasons for recent movements in the gold price and explain the correlation between German economic data, gold and the Swiss franc. IFO data shows that Germany will not …
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SNB Losses: 1.85 Billion Francs in Just One Day, 231 Francs, 250$ per Inhabitant
After the disappointing US current account data, traders have realized which countries have strong trade balances, namely Germany and Switzerland (see here for our details on the ever rising Swiss trade surplus), additionally fueled the good German IFO data. Both the euro and the Swissie strongly rose against the dollar. Due to Abe’s pressure on the …
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SNB Monetary Policy Assessment December 2012: (Nearly) Full Text
The SNB decided to maintain the floor at 1.20 and the Libor target between 0% and 0.25%. As we expected in our outlook on the assessment, there were still important downwards drivers of inflation after the strong appreciation of the franc. Therefore, the SNB has moved its inflation expectations downwards for 2013 to minus 0.1% …
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SNB Monetary Policy Assessment Outlook
On Thursday, December 13th, 2012, at 09.30 CET, the Swiss National Bank (SNB) holds its quarterly monetary policy assessment meeting. As we explained in the “drivers of Swiss inflation” post, inflation pressures will remain subdued for the next 2-3 years, because the effects of the quick rise of the franc and weakening global growth need to …
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Warum die SNB nicht Hongkong, sondern Singapur imitieren wird
Im Gegensatz zu Hongkong mit dem USD/HKD-Peg kann die Schweiz ein Currency Board, einen fixen Kurs zum Euro nicht für Jahre durchhalten. Die Gründe auf snbchf.com
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‘Negative’ has such unfairly negative connotations
Dear people, ATTENTION: HEAD OF FINANCIAL INSTITUTIONS/NETWORKMANAGEMENT/TREASURY AND/OR CASH MANAGEMENT FURTHER TO OUR SWIFT DATED 26 08 2011 PLEASE BE INFORMED THAT DUE TO THE CONTINUED PREVAILING MARKET SITUATION AFFECTING THE SWISS FRANC, WE HAVE...
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The Euro Crisis: Details and chronology and the German Perspective on it
The history of EU reforms, bailouts during the euro crisis and the German perspective on them
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SNB Losses in October and November: 8.4 Billion Francs, 1.5% of GDP
According to the SNB balance sheet and the SNB data delivery to the IMF, the central bank lost 8.4 billion francs of equity in the months of October and November, the equivalent of 1.5% of Swiss GDP. Details SNBCHF.COM
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How Currency Speculators Help the SNB to Fight against Ordinary Investors
A discussion in the investor forum made clear how currency speculators currently help the SNB to maintain the floor against normal investors. A situation that was different in August/September 2011, when the SNB had to fight against these speculators. A discussion in the investor forum Seeking Alpha: part one Based on our analysis of …
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Credit Suisse and UBS Will Charge Negative Interests Above a Threshold
Credit Suisse and UBS will charge negative interests for cash clearing clients above a threshold. Last year such was worth 150 bps, this year on 28 bps. See the official news at FT Alphaville
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Gold, CHF, Brent Arbitrage Trading after Negative CS, UBS Interest Rates
Credit Suisse and UBS will charge negative interests for cash clearing clients above a threshold. Last year such news was worth 250 bps, on December 3 only 28 bips. One remembers August 26, 2011, when UBS only spoke of negative interests and consequently EUR/CHF rose from 1.1420 to 1.1688. At the time FX traders …
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SNB Sight Deposits Week November 16
Total sight deposits at the SNB rose by 0.5 billion to a total of 373 bn. francs in the week ending on November 16th. "Other sight deposits", the ones of foreign banks and Swiss companies, fell by 600 million francs, but the ones of local institutes increased by more than 1 billion francs.
See full detail on our explanation, historical and our expected development of
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SNB Valuation Losses in October: Around 6 Billion Francs
The Swiss National Bank (SNB) had valuation losses of around 6 billion francs in October due to the weaker EUR/CHF exchange rate and a weaker gold price.
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Die Wiederwahl Obamas bedeutet nichts Gutes für die Schweiz
Barack Obama war und ist der präferierte Kandidat vieler Schweizer. Obama scheint der Mann von Welt zu sein, während vom konservativen Mitt Romney eher feindselige Politik gegen Russland, China und Iran zu erwarten ist. Daher sind die Neutralität- und Frieden-liebenden Schweizer eher auf Obamas Seite. Aber auch wirtschaftspolitisch scheinen viele Eidgenossen Obama zu mögen. …
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