SNB & CHF

Shoppers bought large amounts of flour at the start of the coronavirus pandemic. At a Migros supermarket in Stans on March 14, 2020 (Keystone / Urs Flueeler) During the coronavirus pandemic, panic buying has not been too problematic in Switzerland. But in previous global crises the Swiss tended to rush to the shops to stock up. Encouraged by the authorities, keeping emergency supplies remains a well-ingrained tradition for Swiss citizens. A week after the First World...

Since superfluous demand was the core driver of most consumer spending, and that demand is in free-fall, what’s the upside of re-opening? The mainstream view assumes everyone will be gripped by an absolutely rabid desire to return to their pre-pandemic frenzy of borrowing and spending and consuming, the more the better. While the urge to believe the Titanic scraping the iceberg will have no consequence and the collision was nothing but a spot of bother is compelling...

I never said it wasn’t powerful. What I continue to show is that it doesn’t work. Ben Bernanke kept his job because despite the carnage, in times of turmoil people are willing to give anyone a second chance. And if the turmoil never ends, so much the luckier – for him.  Anyone who promises it’s all under control.  A combined 58% of respondents said they had a “great deal” or “fair amount” of confidence that Fed Chairman Jerome Powell would...

Living in Switzerland is expensive. There is no point denying that. However, it is not as expensive as many people think. There are many ways to save money each month on your budget in Switzerland. People pay too much each month for most of their bills in Switzerland. For many people, it is because they do not know they can pay less. Many people simply assume that they need to pay this amount and never try to optimize their budget. Some households are also content...

As of April 26, there were nearly 55,000 COVID-19 deaths reported in the United States. Of those, more than 22,000 (or about 40 percent) were in the state of New York alone. New Jersey was in second place, with nearly 5,900 COVID-19 deaths reported. If we combine these two states, we find that a majority of COVID-19 deaths in the United States have come from them alone. Combined, these two states accounted for more than 51 percent (28,213) of all deaths, while all...

In the increasingly polarized America, Black Swan moments like the COVID-19 pandemic have further confirmed growing divides in the country. Our textbooks would like us to believe that emergencies create fertile grounds for unity. But when you have a populace that is politically dividing itself even when it comes to the TV shows it watches, there comes a point when we have to start recognizing that the prospect of national unity is becoming more of a mirage as the...

Swiss Franc The Euro has risen by 0.04% to 1.0563 EUR/CHF and USD/CHF, April 28(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: Equities are building on yesterday’s gains. The MSCI Asia Pacific Index rose 2% yesterday and edged higher today. Shanghai and Austalia stand out as exceptions. In Europe, the Dow Jones Stoxx 600 is extending yesterday’s 1.8% gain to reach its best level since March 11. Today would be...

The death toll from the virus continues to trend lower in Europe and the US; the dollar remains under some pressure The Fed announced an expansion of its Municipal Liquidity Facility (MLF); regional Fed manufacturing surveys for April continue to roll out; other data will be reported Sweden kept rates and QE steady, as expected; Hungary is expected to stand pat too Oil prices are tumbling again Japan reported soft March jobs data; HKMA stepped up its intervention...

With effect from 1 May 2020, Fabian Schnell will assume the function of Swiss National Bank (SNB) delegate for regional economic relations for the Zurich region. He succeeds Rita Kobel Rohr, who is taking on a new position at the SNB’s General Secretariat on 1 July 2020. Fabian Schnell studied economics at the University of St. Gallen and completed his doctorate there. He is currently a Member of Management at Avenir Suisse and Head of Research in the Smart...

With effect from 1 May 2020, Fabian Schnell will assume the function of Swiss National Bank (SNB) delegate for regional economic relations for the Zurich region. He succeeds Rita Kobel Rohr, who is taking on a new position at the SNB’s General Secretariat on 1 July 2020. Fabian Schnell studied economics at the University of St. Gallen and completed his doctorate there. He is currently a Member of Management at Avenir Suisse and Head of Research in the Smart...