Monday , July 6 2020
Home / Tag Archives: 1) SNB and CHF

Tag Archives: 1) SNB and CHF

Willkommen in einer Zukunft ohne Zins

Die SNB, die EZB und andere Zentralbanken erwarten auch langfristig keine Zinswende – und machen Nullzinsen zur Regel. Eine Übersicht der Prognosen. Hält sich die Option offen, die Leitzinsen noch tiefer ins Minus zu senken: Die EZB in Frankfurt. Foto: Keystone Diese Woche ist die Welt einer Zukunft ohne positive Zinssätze ein Stückchen näher gerückt. Schwedens Notenbank erneuerte ihren Zinspfad. Erstmals geht sie davon aus, dass sie den Leitzins mindestens bis...

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Swiss Balance of Payments and International Investment Position: Q1 2020

Current Account Key figures: Current Account: Down 13.72% against Q1/2019 to 17.4 bn. CHF of which Goods Trade Balance: Plus 8.05% against Q1/2019 to 17.4 bn. of which the Services Balance: Minus 53.84% to 3.02 bn. of which Investment Income: Minus 0.54% to 6.3 bn. CHF. Current Account Switzerland Q1 2020(see more posts on Switzerland Balance of Payments, Switzerland Capital Account, Switzerland Current Account, Switzerland Financial Account, ) Source: snb.ch...

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Banks in Switzerland 2019

The Swiss National Bank has today published its report Banks in Switzerland 2019 and the corresponding data for its annual banking statistics.1 The most important figures are summarised below. 1The figures in Banks in Switzerland are based on data in banks’ (parent companies’) individual financial statements, as required by law. The reporting entity ‘parent company’ includes bank offices in Switzerland and legally dependent branches abroad. Banks’ consolidated...

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Swiss National Bank forecasts deflation until 2022

On 18 June 2020, the Swiss National Bank (SNB) said it would maintain its negative rate of interest (-0.75%) and remains willing to intervene more strongly in the foreign exchange market. The coronavirus pandemic has led to a severe downturn in economic activity and a decline in inflation both in Switzerland and abroad. The bank presented a new lower inflation forecast than the one it issued in March 2020. The red line in the chart above shows deflation exceeding...

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SNB Monetary Policy Assessment June 2020 and Videos

Swiss National Bank maintains expansionary monetary policy The coronavirus pandemic and the measures implemented to contain it have led to a severe downturn in economic activity and a decline in inflation both in Switzerland and abroad. The SNB’s expansionary monetary policy remains necessary to ensure appropriate monetary conditions in Switzerland. The SNB is keeping the SNB policy rate and interest on sight deposits at the SNB at −0.75%, and in light of the highly...

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SNB Preview

The Swiss National Bank meets Thursday. It is widely expected to maintain its current policy stances but is likely to push back against CHF strength. Here, we highlight here the potential choices that lie ahead for the SNB. WHAT ELSE CAN THE SNB DO? The SNB meets quarterly in March, June, September, and December. At the March 19 meeting, the SNB took a series of measures to help mitigate the impact of the pandemic. Whilst SNB officials have always said that rates...

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Que fait une banque centrale pour soutenir l’économie locale par temps de confinement? La BNS au menu

Voici une vidéo tournée par Christian Campiche lors d’une rencontre matinale autour d’un café. Christian s’est mis à enregistrer alors que nous parlions de ce que la BNS faisait, et surtout ne faisait pas, pour soutenir la population suisse dans cette période de post-confinement. Mon point de vue est non seulement qu’elle ne fait rien pour l’économie locale, mais qu’elle fait tout pour le marché financier international auquel elle appartient pleinement. embedded...

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“Wenn die Notenbank den Staat finanziert (When the Central Bank Finances the State),” FAS, 2020

FAS, 31 May 2020. PDF. Monetary deficit financing is the norm—after all, central banks distribute their profits. Monetary financing occurs in the context of regular open market operations and QE and, hyper charged, with helicopter drops. The question is not whether monetary policy should finance the government, but why it does so, and to what extent. Fiscal and monetary policy are inherently connected; what constitutes monetary policy is defined by objectives....

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Swiss central bank could take negative rates lower

© Marekusz | Dreamstime.com The rate on deposits at the Swiss National Bank (SNB) is currently -0.75%. And while taking the rate further into negative territory is not the base case scenario, it cannot be excluded, according to some economists at the bank UBS. The probability that the SNB lowers rates further is not a base scenario, according to Thomas Jordan, the bank’s chief, reported the newspaper 20 Minutes. However, economists at UBS think it is possible, and...

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FINMA-Aufsichtsmitteilung 06/2020: Verlängerung oder Auslaufen von Erleichterungen infolge der COVID-19-Krise

Die Eidgenössische Finanzmarktaufsicht FINMA veröffentlicht eine weitere Aufsichtsmitteilung im Kontext der COVID-19-Krise. Sie passt darin die Fristen von diversen, bereits erteilten Erleichterungen an und präzisiert die Berechnung der Finanzierungsquote NSFR. Mit der Aufsichtsmitteilung 06/2020 vom 19. Mai 2020 passt die FINMA die Fristen von verschiedenen, bereits gewährten Erleichterungen an. Die Kunden halten weiterhin unüblich hohe Bargeldeinlagen bei Schweizer...

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