SNB News
We compare several machine learning methods for nowcasting GDP. A large mixed-frequency data set is used to investigate different algorithms such as regression based methods (LASSO, ridge, elastic net), regression trees (bagging, random forest, gradient boosting), and SVR. As benchmarks, we use univariate models, a simple forward selection algorithm, and a principal components regression. The analysis accounts for publication lags and treats monthly indicators as quarterly...
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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.
2024-06-03 – Data portal – Interest rates and exchange rates, June 2024
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Read More »2024-06-03 – Data portal – Important monetary policy data, 3 June 2024
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Read More »2024-05-31 – Data portal – SNB balance sheet items end of April 2024
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Read More »2024-05-31 – Data portal – IMF SDDS Plus, 31 May 2024
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Read More »2024-05-31 – Payment transactions – The Swiss Interbank Clearing (SIC) payment system – Report on the SIC System and Disclosure Report
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Read More »2024-05-30 – Thomas Jordan: The natural rate of interest (r*) as a reference point for monetary policy – a practitioner’s view
Over the past years, the natural rate of interest (r*) - defined as the real interest rate consistent with stable inflation in an economy operating at full capacity in the medium term - has become an important reference point for monetary policy. The difference between the real interest rate and r* gives a measure of a central bank's monetary policy stance. Monetary policy is restrictive if the real interest rate is above r* and it is expansionary if it is below r*. Therefore,...
Read More »2024-05-27 – Data portal – Important monetary policy data, 27 May 2024
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Read More »2024-05-21 – Data portal – Important monetary policy data, 21 May 2024
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Read More »2024-05-21 – Data portal – Monthly banking statistics, May 2024
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