Tag Archive: Swiss National Bank

Nokia investment provides SNB 10 million profit

2013-01-11

Recently we reported on SNB losses of 1.85 bil. CHF in just one day and on our estimate of 5 bil. CHF loss in Q4/2012. But now good news: the SNB made a profit of 10 million on Nokia - i.e. 0.2% of the Q4 loss reversed. More on

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Swiss Public Discussion Switched from Floor to Housing Bubble

2013-01-10

by George Dorgan

2013-01-10

Why there is no real estate bubble in Switzerland yet and why the SNB will help to create one With the current recovery in the United States the discussion in Switzerland switched from a discussion about the EUR/CHF floor to the Swiss real estate boom, the so-called “housing bubble”. It seems that the Swiss …

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The Big Swiss Faustian Bargain: Differences between SNB, ECB and Fed Money Printing Explained

Potential losses due to money printing are for the Fed: 1.2% of GDP, Bundesbank: 5% of GDP, SNB: 12% of GDP.

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Why the SNB will not Imitate Hong Kong, but Potentially Singapore

The SNB will not be able to realize a fixed currency peg over the long-term. The consequence would be that Switzerland loses its competitive advantage, lower Swiss rates, if it follow euro inflation.

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15 Years of Bubbles, Busts and Failed Monetary Policy

Upcoming SNB Events

The link gives an overview about the upcoming SNB events.

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7b) Major Schools of Economics

Development of Swiss GDP vs. GNI Gross National Income Gross Domestic Product

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

2012-12-21

by George Dorgan

2012-12-21

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

2012-12-18

by George Dorgan

2012-12-18

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

2012-12-14

by George Dorgan

2012-12-14

snb monetary policy assessment december 2012 jordan danthine zurbrügg

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

2012-12-12

by George Dorgan

2012-12-12

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

2012-12-11

by George Dorgan

2012-12-11

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

2012-12-11

by David Keohane

2012-12-11

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

2012-12-05

by George Dorgan

2012-12-05

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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