Swiss National Bank (SNB)
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
The Swiss National Bank governor speaks about currency intervention, negative rates, sovereign money and the diversification of reserves
People: Palestine Monetary Authority appoints new deputy governor
New members appointed to Finnish and Swiss boards
Swiss central bank keeps policy rates negative
SNB says it will intervene in foreign exchange markets “as necessary”
SNB should clearly assign policy tools, IMF report says
SNB can avoid impression of exchange-rate targeting through better communication, says IMF
Swiss reject radical monetary proposals
Less than a quarter of people vote for new monetary system; activist says vote has started a conversation
Switzerland weighs bold monetary experiment
On June 10, Switzerland will vote on whether to revolutionise its monetary system and hand the central bank a monopoly on money creation
Cash usage in Switzerland below eurozone average – SNB survey
SNB’s first payments study finds 70% of transactions processed in cash in 2017
Adrian and Rey: macro-prudential tools needed to resist ‘bad booms’
Economists say monetary policy cannot fully control local conditions; Hélène Rey calls for improved early warning models
SNB governor condemns 'sovereign money initiative'
Thomas Jordan calls on voters to reject proposal for new credit system
SNB loses $6.9 billion in Q1
Higher interest rates reduced the value of sovereign bonds
Book notes: The paradox of vulnerability, by John Campbell and John Hall
Quality of national institutions vital to handling financial crises, say authors
SNB rejects idea of retail central bank digital currency
Governing board member Andrea Maechler says central bank digital currency would bring “incalculable risks”, and denies that crypto tokens are “comparable with” money
Language shapes monetary policy preferences in Switzerland – research
Culture partly outweighs shared institutions and economic history in setting priorities
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds
SNB struggles to end ultra-loose policy regime
The Swiss central bank’s hopes of normalising policy are being held back by weak expectations, a strong currency and policy actions abroad
People: South Korea’s Juyeol Lee nominated for new term
South Korean president nominates Lee for fresh four-year term; SNB’s Wiedmer steps down; State Bank of Vietnam appoints new banking supervisors
Banknote and currency services provider of the year: Landqart
The leading hybrid substrate provider offers the durability and increased security of polymer combined with the security features and customer familiarity of paper
SNB expects record profits for 2017
Swiss central bank benefits from high asset prices and a weaker franc
SNB buys banknote company ‘to ensure its survival’
Company that provides substrate for Swiss banknotes came into liquidity difficulties following the cancellation of a tender from an international client
SNB keeps accommodative policy unchanged
Central bank acknowledges Swiss franc’s depreciation, but still considers the development “fragile”
Distorted Swiss surplus not good base for policy – Jordan
Multinationals’ operations, higher nominal rates abroad and Swiss franc appreciation increase the surplus
Public satisfaction with BoE rises with policy understanding
The research recommends targeting young people with low incomes, as well as women
Swiss bond market contracts despite negative rates – SNB’s Maechler
Shift driven by lower issuance by Swiss government and reduced financing needs of banks
SNB’s Jordan defends central bank independence
In contrast to monetary policy, macro-prudential should also be shaped by government