SNB News
In this study, the signals of more than 530,000 news articles from 15 large Swiss newspapers are extracted to measure the economic sentiment in Switzerland. Economic sentiment includes consumer sentiment and sentiment about businesses as well. The research period for the text sentiment analysis ranges from 2016 until 2022 and, thus, the impact of the COVID-19 lockdown period is included in this analysis. I contribute two new indices: one concerns the measure of news...
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The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.
2023-11-27 – Data portal – Important monetary policy data, 27 November 2023
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Read More »2023-11-21 – Data portal – Monthly banking statistics, November 2023
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Read More »2023-11-21 – Data portal – Economic data, November 2023
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Read More »2023-11-20 – Data portal – Important monetary policy data, 20 November 2023
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Read More »2023-11-18 – Thomas Jordan: Independence in research and monetary policy – a critical success factor for Switzerland
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Read More »2023-11-14 – Data portal – IMF SDDS Plus, 14 November 2023
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Read More »2023-11-14 – Thomas Jordan: Policy-making under uncertainty: The importance of maintaining a medium-term orientation
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Read More »2023-11-13 – Data portal – Important monetary policy data, 13 November 2023
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Read More »2023-11-09 – Thomas Moser: Implementing monetary policy with positive interest rates and a large balance sheet: First experiences
In September 2022, the Swiss National Bank (SNB) raised its policy rate back into positive territory. At the same time, it adopted a new approach to implementing monetary policy in the money market. This approach employs two levers: the tiered remuneration of reserves, also referred to as reserve tiering, and reserve absorption. The speech explains why, with a large central bank balance sheet, remunerating the reserve holdings of commercial banks is the only practical way...
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