Tag Archives: 1) SNB and CHF

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...

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:...

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...

Der Kampf der EZB gegen die Rekordinflation wird zum Teil von einer Haushaltspolitik konterkariert, die zu viel Geld ausgibt, um die steigenden Lebenshaltungskosten abzufedern, sagte Ratsmitglied Robert Holzmann. “Die Fiskalpolitik ist aufgrund der sozialen Verwerfungen, die die Inflation hervorruft, genötigt Interventionen vorzunehmen”, sagte der Gouverneur der Oesterreichischen Nationalbank (OeNB) am Freitag vor Journalisten in Wien. “Das Problem, das wir in Europa...

Project Mariana explores automated market makers (AMM) for the cross-border exchange of hypothetical central bank digital currencies (CBDCs) in Swiss francs, euros and Singapore dollars between financial institutions to settle foreign exchange trades in financial markets. Mariana uses decentralised finance (DeFi) protocols to automate foreign exchange markets and settlement, potentially improving cross-border payments (and supporting a priority of the G20). Today,...

BIS Triennial Survey: April 2022 survey The SNB has today published the results of the survey on turnover in foreign exchange and over-the-counter (OTC) derivatives markets in Switzerland. The data reflect the turnover in April 2022 of the banks surveyed. The survey is part of a global survey coordinated by the Bank for International Settlements (BIS) on foreign exchange and OTC derivatives trading. It is conducted every three years and in over 50 countries. This is...

In the recent past, the political and economic backdrop has changed dramatically. Inflation is far too high almost everywhere, and central banks are raising their policy interest rates at a time when stocks of government debt are large. In some places, central bank independence is being publicly called into question. Threats to central banks’ independence, and thus to their ability to fulfil their monetary policy mandates, are particularly acute in the current...

SNB Jordan is on the wires speaks in general terms: Central bank independence is crucial to fight inflation effectively central banks could face political pressures to slow down or postpone interest rate hikes to tackle inflation central banks more politically vulnerable as inflation rises Comments outline reasons why central banks in general need to remain independent. Will be on alert for any comments on monetary policy.   [embedded content]...

Die Schweizerische Nationalbank (SNB) ist zu weiteren Zinserhöhungen bereit, um die Inflation unter Kontrolle zu bringen. Es gebe vermehrt Anzeichen für Zweitrundeneffekte, sagte SNB-Direktoriumsmitglied Andrea Maechler am Mittwoch bei einer Veranstaltung in Zürich. “Es könnte wirklich gut passieren, dass wir auch noch weitere Zinsenerhöhungen machen müssen.” Die Schweizer Währungshüter hatten angesichts der gestiegenen Teuerung im vergangenen Monat den Leitzins um...

Swiss National Bank monetary policymaker Andrea Maechler is speaking at 1130 GMT, at an event titled: After the interest rate change: high inflation, rising interest. How will it affect the Swiss economy? In September: SNB raises policy rate by 75 bps to 0.50%, as expected EUR/CHF has been recovering from its recent lows: . [embedded content]...