SNB & CHF

01.04.2016 09:15  – FSO, Economic Surveys (0353-1603-20)                                         In several press release Swiss Statistics focuses on nominal data:But the data adjusted for inflation is more important: Real retail sales  (adjusted for holidays) -0.3% YoY Real “Core retail sales” (excluding service stations) +0.3% YoY Retail trade turnover in February 2016 Swiss retail trade turnover falls by 0.9% Neuchâtel, 01.04.2016 (FSO) – Turnover in the retail sector fell by...

Gold market analysts have for many years puzzled over the unusual behaviour of the gold market during the 1990s, specifically the bizarrely flat gold price from 1993 to 1996 in the face of sustained selling pressure from central banks and gold miners hedging their production. To-date no one has been able to identify the hidden source of demand that was obviously supporting the gold market during that period. In addition, conventional justifications that accelerated sales by central banks...

Reader Questions on Negative Interest Rates Our reader L from Mumbai has mailed us a number of questions about the negative interest rate regime and its possible consequences. Since these questions are probably of general interest, we have decided to reply to them in this post. The NIRP club – negative central bank deposit rates – click to enlarge. Before we get to the questions, a few general remarks: negative interest rates could not exist in an unhampered free market. They are an...

I attended a panel discussion on private blockchains in banking at UBS in NYC last night. There were two overarching misconceptions that appeared to permeate the discussions: Counterparties can be trusted, hence you can build reliable systems with trusted parties, and; Capital markets are, and always will be predicated upon the legacy, highly centralized hub and spoke model that we know today. Basically, the influential gatekeepers that control access to a centralized, authoritative...

31.03.2016 09:15  - FSO, Demography and Migration (0353-1603-10) Families and Generations Survey 2013: Relationships Where the heart is: Relationships and marriages popular Neuchâtel, 31.03.2016 (FSO) – More than three quarters of men and women aged between 18 and 80 are in a relationship and most of these live together with their partner. Marriage still remains common with four fifths of all people who live with a partner of the opposite sex being married. These are some of the findings of...

A Salutary Effect BALTIMORE – “Ike and Dick Sure to Click” was an exciting election slogan. Their Democratic opponents, Adlai Stevenson and Estes Kefauver, had their snazzy campaign jingle, too: “Adlai and Estes… They’re the Bestes.” Surely, the men behind these slogans had their private hungers and perversions. But they kept them to themselves. The 1956 presidential election campaign was a dull affair. Google “Adlai Stevenson’s wife,” and you will get only the barest biographical...

  The G-20 and Policy Coordination Readers may recall that the last G20 pow-wow (see “The Gasbag Gabfest” for details) featured an uncharacteristic lack of grandiose announcements, a fact we welcomed with great relief. The previously announced “900 plans” which were supposedly going to create “economic growth” by government decree seemed to have disappeared into the memory hole. These busybodies deciding to do nothing, is obviously the best thing that can possibly happen.   Yuan, weekly –...

Bawerk shows that more than 3 mb/d of American oil production was helped by US$55.5bn in credit facilities, by excessive debt. This production is now at risk and the debt may not be repaid. The big OPEC players are playing against US shale oil and some smaller OPEC members that have higher costs. Another month, another flight to Hamad international airport for 17th April after initial agreement to hold ‘upstream horses’ in February 2016. While it’s no doubt great fun getting back...

Benzodiazepine is a class of tranquillisers used to relieve cramps, dissipate anxiety and help with sleep disorders. But as this report finds, addiction can become a dangerous side effect. (SRF/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 visit swissinfo.ch or subscribe to our YouTube channel:...

The Swiss Swatch group has joined the race to build the next generation of batteries. (SRF/swissinfo.ch) CEO Nick Hayek says little progress has been made in developing batteries over the past 30 years, but Swatch wants to change this. His company has been carrying out research and investing in finding better materials that are not scarce or dangerous. Another Swiss company that has already introduced changes in battery design is Leclanché. Their batteries use titanate instead of the...