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Home / Tag Archives: 1) SNB and CHF (page 5)

Tag Archives: 1) SNB and CHF

Andréa M. Maechler: Introductory remarks, news conference

In my remarks, I will talk in more detail about the implementation of today’s monetary policy decision, which Thomas Jordan has already touched on. I will start, however, by giving you an overview of how we have steered interest rates since the switch to a positive SNB policy rate in September. The switch from a negative to a positive SNB policy rate required us to make an adjustment to the implementation of our monetary policy in the money market. The new approach...

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Monetary policy assessment of 15 December 2022

Swiss National Bank tightens monetary policy further and raises SNB policy rate to 1.0% The SNB is tightening its monetary policy further and is raising the SNB policy rate by 0.5 percentage points to 1.0%. In doing so, it is countering increased inflationary pressure and a further spread of inflation. It cannot be ruled out that additional rises in the SNB policy rate will be necessary to ensure price stability over the medium term. To provide appropriate monetary...

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Börsen-Ticker: Wall Street nach Fed-Zinsentscheid erneut im Minus – Schweizer Börse legt dank Indexriesen Nestlé und Novartis zu

Der SMI fällt 0,40 Prozent auf 11’091,93 Punkte. Vor der am Abend erwarteten Zinsentscheidung der US-Notenbank haben die Anleger einen Gang zurückgeschaltet. Die Freude von Vortag, als die Nachricht über den nachlassenden Inflationsdruck in den USA die Märkte angetrieben hatte, sei wieder der Vorsicht gewichen, heisst es in Börsenkreisen. Daher bröckelten die Kurse ab. Nach dem Rückgang der Inflation dürfte das Fed den Leitzins wie erwartet wohl nur um 50 Basispunkte...

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Issuance calendar for Confederation bonds and money market debt register claims in 2023

The Swiss National Bank (SNB) and the Federal Finance Administration (FFA) advise as follows: The FFA plans to issue bonds with a face value of CHF 8 billion in 2023. Taking account of bonds maturing in 2023, the volume of bonds outstanding will increase by CHF 3.4 billion. The volume of outstanding money market debt register claims will be kept in a range between CHF 12 billion and 18 billion. Bond auctions take place monthly, except in August, while money market...

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SNB-Vize Schlegel signalisiert neuen Zinsschritt im Dezember

SNB-Vize Martin Schlegel hat angedeutet, dass die Schweizerische Nationalbank die Leitzinsen im Dezember erneut anheben wird. Er betonte die Notwendigkeit, das starke Wachstum der Konsumentenpreise zu bekämpfen. Die Inflation liege über dem Zielwert, sei also für die Notenbank immer noch zu hoch, sagte Schlegel am Dienstag auf einer Konferenz im liechtensteinischen Vaduz. “Wir werden alles tun, um Preisstabilität zu gewährleisten.” Die SNB hat die Zinsen in diesem...

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Andréa M. Maechler / Thomas Moser: Return to positive interest rates: Why reserve tiering?

Ladies and gentlemen It is with great pleasure that my colleague Thomas Moser and I welcome you to this year’s Swiss National Bank (SNB) Money Market Event in Geneva. We are very glad that so many of you have joined us this evening, be it on site or remotely. Since we last met in this setting a year ago, fighting inflation has become the most important task for central banks worldwide. Many countries have experienced a surge in inflation, the scale and pace of which...

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SNB-Maechler: Rückkehr zu positiven Zinsen bedingt neuen Ansatz für Geldpolitik

Die erste Leizins-Erhöhung seit 15 Jahren im Juni bezeichnet SNB-Direktoriumsmitglied Andréa Maechler als historischen Moment. Die Schweizerische Nationalbank (SNB) hat mit der Rückkehr der Inflation auch den Leitzins wieder in den positiven Bereich angehoben. Mit dem Übergang ins Positivzinsumfeld hat die Notenbank allerdings auch einen neuen Ansatz zur Umsetzung ihrer Geldpolitik am Geldmarkt wählen müssen, erklärten SNB-Direktoriumsmitglied Andréa Maechler...

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Barclays forecasts EURCHF trading around parity for the next few quarters

This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. Barclays Research discusses CHF outlook and targets EUR/CHF around 0.97, 0.97, 0.98, and 1.00 by end of Q1, Q2, Q3, and Q4 of next year respectively. “We expect CHF to remain at the higher end of its historical range, with EURCHF trading around parity for the next few quarters. CHF...

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SNB’s Jordan: Monetary policy is is still expansionary

SNB’s Jordan, who has been chatting more in the NY session at least of late, is no the wires saying: monetary policy is a still expansionary we have most likely to adjust monetary policy again inflation is very thorny and there is still a risk that inflation will rise further inflation rate is above our target now. Expect it to be above our target if we don’t take that into account central banks around the world are now in a tightening cycle Yesterday Jordan said:...

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SNBs Jordan: IN 2023, sees Swiss growth weaker than this year. USDCHF trades near lows.

SNB’s Jordan is on the wires saying that: He sees weaker growth in 2023 than this year. SNB still has credibility that inflation will moderate Inflation has broadened Sees limited 2nd round wage effects in Switzerland There is a great probablility that SNB will need to further tighten monetary policy. Nominal appreciation of the franc helps guard against inflation The SNB stands ready to BUY OR SELL the keep the franc fx rate appropriate to steer inflation to target...

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