Switzerland
Marks (and sizes and colours) of distinction
Many central banks make an effort to make cash accessible to blind and partially sighted users
European rates: Norway expects more tightening next year
Switzerland raises rates 50bp and Denmark raises rates in line with ECB
BIS reveals winning design for new HQ tower
Second tower will be major addition to Basel skyline – if it gets the go-ahead
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months
SNB withdraws record sum from Fed’s swap line
Swiss central bank taps $11 billion but reasons for its operations are unclear
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
SNB abandons negative rates
Jordan says Swiss central bank’s use of negative rates was effective
Norges Bank, Riksbank and SNB expected to raise rates
High inflation and ECB tighter policy stance put pressure on eurozone’s neighbours
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
Is money growth really the main inflation culprit?
Jakob de Haan and Jan-Egbert Sturm take a closer look at inflation in the eurozone and Switzerland
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
SNB raises rates for first time since 2007
Jordan says the Swiss central bank is ready to prevent “second-round effects” becoming entrenched
Swiss central bank defends board structure
Think-tank suggested governing board was “susceptible to group think” in April report
Does Switzerland need an SWF?
A sovereign wealth fund could adopt longer-term strategies, invest in less liquid assets and increase exposures to riskier assets such as equities, potentially boosting returns
People: Swiss vice-chair to take office in August
Board member appointed in Guatemala; new external MPC member in Ghana; and more
Higher global inflation allows SNB to let franc rise – Jordan
Less integrated global economy could lead to persistent higher inflation, says SNB chair
SNB has weak transparency and governance practices – report
Board risks “group-think”, as its monetary policy communication is shallow, experts argue
Swiss inflation rises above target
Oil prices contribute to inflation that is now above the SNB’s forecasts
SNB keeps rates at -0.75% but increases inflation forecasts
War in Ukraine is boosting inflation through higher oil and other commodity prices, SNB says
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
SNB profits rise to $28.5 billion
Central bank reaffirms pledge to halt appreciation of the franc
Facebook-backed stablecoin project to wind down, report says
Project formerly known as Libra had struggled to gain regulatory approval
BIS-SNB project links wholesale CBDC to core banking system
Project Helvetia’s second phase demonstrates integration of DLT with standard systems is possible