Tag Archives: 1) SNB and CHF

Bank of Canada’s Senior Deputy Gov. Carolyn Rogers: We are not where we were in July, but we are a long way from where we need to be Bank has seen early signs monetary policy is working the bank still sees a path to a stop to soft landing, that’s still our objective neutral territory is a range, it’s an estimate, there is no magic formula There has been a lot of central banks speak from the Swiss National Bank to the Federal Reserve to the ECB, and now additional...

SNB-Präsident Thomas Jordan: Der Schritt der EZB war wichtig. (Bild: PD)Die Forward Guidance – die Leitlinien für die zukünftige Geldpolitik, auf welche die US-Notenbank und die Europäische Zentralbank achten, um die Finanzmärkte auf ihre Entscheide vorzubereiten und dem ihnen einen Schock zu ersparen – ist für die Schweizerische Nationalbank unbedeutend. Man sei sehr zurückhaltend mit Ankündigungen betreffend einem Zinsentscheid. Damit wäre die Diskussion an der...

Looks at series of models to gauge Swiss francs value; market has to live with some volatility no comment on currency intervention. We don’t rule anything out monetary policy cannot influence explosion and prices in case of a severe shortage the longer inflation last, the greater the risk of a 2nd round of facts having a negative impact central banks need to watch out that fiscal policy does not dictate monetary policy Meanwhile SNB’s Maechler is now joining in...

Als Dividendenzahlerin weiterhin beliebt: Die Waadtländer Kantonalbank. Die beste Jahresperformance der Schweizer Banken hat die Waadtländer Kantonalbank. Vor allem hohe Dividendenrenditen machen auch andere Schweizer Banken interessant – solange man bereit ist, auch Risiken zu tragen. Die Chefs von Schweizer Banken dürften am 16. Juni aufgeatmet haben. Was auch immer über die Pros und Cons von Zinserhöhungen gesagt wird, der Zinsschritt der Schweizerischen...

Swiss National Bank President Thomas Jordan spoke at the Federal Reserve’s annual Jackson Hole symposium on Saturday. “Structural factors such as the transition to a greener economy, rising sovereign debt worldwide, the demographic transition and ultimately also the fact that globalization appears to have peaked — at least temporarily — could lead to persistently higher inflationary pressure in the coming years” “There are signs that inflation is increasingly...

The pandemic and the war in Ukraine have fundamentally changed the constraints on monetary policy. Uncertainty has increased strongly in many respects, and there has been a sharp rise in inflation. In June 2022, the SNB raised its policy rate for the first time in 15 years and announced that further increases may be necessary in the foreseeable future. The decision was taken against a backdrop of high uncertainty. Interpreting the current data is difficult,...

On Saturday at the Jackson Hole symposium there will be speakers from the European Central Bank, Swiss National Bank and Bank of Korea. We may get some clues on what’s coming up from the ECB: Powell’s speech at Jackson Hole is the second-most important Saturday’s item of interest (1625 GMT)   [embedded content] Tags:...

My written statement for 20minuten: Anlageverluste der SNB sind schlecht für den Schweizer Steuerzahler, denn ihm gehört die SNB. Sie können aber auch Entwicklungen widerspiegeln, die ihre guten Seiten haben. Jetzt zum Beispiel führt die Frankenstärke zu Anlageverlusten, bremst aber auch die importierte Inflation. Die Diskussion um die Höhe der SNB-Ausschüttungen ist vielfach fehlgeleitet. In der Debatte geht vergessen, dass Gewinnausschüttungen das Reinvermögen von...

The increasing volatility of SNB Earnings Annual results are not really definite. Given that the SNB accumulates foreign currencies with interventions, they have huge swings. But the SNB may lose 50 billion in one year and win 60 billion in the next year or vice verse. Low Inflation, Crashes and Central Bank Money Printing The crisis caused by the Covid19 virus,is a typical crisis with low inflation (at least for now). During such a crisis, central bank money...

How are SNB profits and losses distributed and what issues are debated? Annual Result Funds two “Reserves” The annual result (Jahresergebnis) of the Swiss National Bank (SNB) is split into two parts. The first part funds “provisions for currency reserves” (Zuweisungen an Rückstellungen für Währungsreserven) which are meant to provide a buffer against future losses on the SNB’s asset positions. The second part funds current and future profit distributions to the...