SNB & CHF

In the face of much cynicism and pessimism about the outlook for the Trump Administration’s agenda, we have repeatedly pointed out the resilience of the system of checks and balances. Many of the more extreme positions have been tempered, either on their own accord, such as naming China a currency manipulator or pulling out of NAFTA or KORUS, or the judiciary branch, such as on immigration curbs, or the legislative...

Swiss Life denies it has flouted US regulations - Click to enlarge Insurance firm Swiss Life has announced that it has been approached by the US Department of Justice (DOJ) regarding its cross-border business with US clients. After going after Swiss banks with a vengeance for abetting tax evasion, it appears that it is now the turn of the Swiss insurance industry to attract unfavourable attention from the DOJ. Products...

© Ocusfocus | Dreamstime Switzerland’s federal council, the country’s seven-person executive or cabinet, has come up with a plan to cut those exorbitant mobile roaming phone bills that many of us return home to after trips abroad, an experience which hurts even more now roaming charges have been eliminated for EU residents. The roaming proposal is part of a wide-ranging revision to Switzerland’s telecommunications laws,...

The first ever first 'Fly-In' has been held in canton Solothurn, showcasing a range of electric or hybrid-powered aircraft. The Antares motor glider, made by Lange Aviation, was the first electric aircraft to be certified with an electric motor. Karl Olsen developed the software.  (Julie Hunt, swissinfo.ch)  --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international...

The first ever first 'Fly-In' has been held in canton Solothurn, showcasing a range of electric or hybrid-powered aircraft. Cornelia Ruppert presented the Archaopteryx , an electrified glider, especially adapted to land in a tight spot. (Julie Hunt, swissinfo.ch)  --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos...

 – British people suddenly stopped buying cars – Massive debt including car loans, very low household savings – Brexit and decline in sterling and consumer confidence impacts – New cars being bought on PCP by people who could not normally afford them – UK car business has ‘exactly the same problems’ as the mortgage market 10 years ago, according to Morgan Stanley – Bank of England is investigating to make sure UK banks...

The Bank of Canada “raised rates” again today, this time surprising markets and economists who were expecting more distance between the first and second policy adjustments. The central bank paid typical lip service to being data dependent. It has a vested interest if you, as any Canadian reader, believe that to be a fact. But what we really find in Canada is what we find everywhere else. The end of the “rising dollar”...

Swiss National Bank leaves expansionary monetary policy unchanged The Swiss National Bank (SNB) is maintaining its expansionary monetary policy, with the aim of stabilising price developments and supporting economic activity. Interest on sight deposits at the SNB is to remain at –0.75% and the target range for the three-month Libor is unchanged at between –1.25% and –0.25%. The SNB will remain active in the foreign...

(The next leg of the business trip takes me to Frankfurt. Sporadic updates will continue) Swiss Franc The Euro has fallen by 0.14% to 1.147 CHF. EUR/CHF and USD/CHF, September 13(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates We have been identifying the $1.3430 area is a reasonable technical target for sterling. It represents the 50% retracement of sterling’s losses...

Some 52 million passengers took off, landed or transited via Swiss airports last year. But while the number of passengers continues to soar, there are fewer planes in operation than in 2000. There are now fewer planes in circulation, but they have much bigger capacities, like this Airbus A380 taking off from Zurich Airport (Keystone) - Click to enlarge In 2016, Switzerland’s national airports in Zurich, Geneva...