Tag Archives: SNB

In a CEPR discussion paper, Cedric Tille argues that Switzerland’s international linkages have been transformed over the last decade. Abstract: - Click to enlarge Over the last decade, the economic linkages between Switzerland and the rest of the world have been transformed. First, merchanting and the chemical industry account for an increasing share of international trade, with chemicals exports expanding...

From the official news release Interim results of the Swiss National Bank as at 30 June 2017 The Swiss National Bank (SNB) reports a profit of CHF 1.2 billion for the first half of 2017. A valuation gain of CHF 0.3 billion was recorded on gold holdings. The profit on foreign currency positions amounted to CHF 0.1 billion and the profit on Swiss franc positions stood at CHF 0.9 billion. The SNB’s financial result...

Latest Investment Outlook In his latest investment outlook, Fasanara Capital’s Franceso Filia, who two months ago explained in one chart how the “fake market” operates… … discuss what happens when a “Twin Bubble meets quantitative tightening” and answers why record-low volatility breeds market fragility and precedes system instability. We’ll have more to share on that shortly, but for now, here is Filia with his take...

(GLOBALINTELHUB.COM) Dover, DE — 7/18/2017 — Hidden in plain site, as the Trump administration finally released something of substance regarding the so called promised “Trade Negotiation” we see FX take center stage in the global drama unfolding.  As noted on a Zero Hedge article: The much anticipated document (press release and link to full document) released by U.S. Trade Representative Robert Lighthizer said the Trump administration aimed to reduce the U.S. trade deficit by...

FX The EUR/CHF remained over 1.10 in the last week, thanks to hawkish comments from ECB president Draghi. Headlines Week July 17, 2017 On June 27, Draghi told the audience at the annual ECB Forum that transitory factors were holding back inflation. This has boosted the euro against both USD and CHF. Our opinion, however, is that this “transition” is very long, possibly comparable to the Japanese deflation/...

Authored by Kevin Muir via The Macro Tourist blog, After many months of fighting all the naysayers predicting the next big stock market crash, I am finally succumbing to the seductive story of the dark side, and getting negative on equities. I am often early, so maybe this means the rally is about to accelerate to the upside. I am willing to take that chance. It would be just like me to pound the table on the long side,...

Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank News conference of the Swiss National Bank, Berne, 16.06.2016 Thomas Jordan - Click to enlarge Introductory remarks by Thomas Jordan Ladies and gentlemen It is a pleasure for me to welcome you to the Swiss National Bank’s news conference. I will begin by explaining our monetary policy decision and our assessment of the economic situation. I will...

Swiss National Bank leaves expansionary monetary policy unchanged The Swiss National Bank (SNB) is maintaining its expansionary monetary policy, with the aim of stabilising price developments and supporting economic activity. Interest on sight deposits at the SNB is to remain at –0.75% and the target range for the three-month Libor is unchanged at between –1.25% and –0.25%. The SNB will remain active in the foreign...

Fritz Zurbrügg, Vice Chairman of the Governing Board of the Swiss National Bank News conference of the Swiss National Bank, Berne, 15.06.2017 Fritz Zurbrugg - Click to enlarge Introductory remarks by Fritz Zurbrügg In my remarks today, I will present the key findings from this year’s Financial Stability Report, published by the Swiss National Bank this morning. In the first part of my speech, I will look at the...

Andréa M. Maechler, Member of the Governing Board of the Swiss National Bank News conference of the Swiss National Bank, Berne, 15.06.2017 Complete text: PDF (478 KB) I will begin by reviewing the situation on the international financial markets. I will then address some developments on the Swiss money and foreign exchange markets – specifically the establishment of SARON as the leading reference rate for interest rate...