Swiss franc
Higher global inflation allows SNB to let franc rise – Jordan
Less integrated global economy could lead to persistent higher inflation, says SNB chair
Swiss inflation rises above target
Oil prices contribute to inflation that is now above the SNB’s forecasts
SNB profits rise to $28.5 billion
Central bank reaffirms pledge to halt appreciation of the franc
Has the SNB accepted a stronger franc?
Swiss central bank reduces FX interventions as currency breaks 1.05 ceiling against the euro
SNB still ready to depreciate franc despite US condemnation
Swiss central bank stands firm after US Treasury labelled Switzerland a currency manipulator
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021, despite CFTC saying 2,400 companies still exposed and Fed extending some US libor contracts until mid-2023
SNB holds despite recent ECB and Fed easing measures
Swiss central bank increases threshold on banks’ deposits exempt from negative rates
Fragility of forex market stays SNB’s hand
Central bank maintains Libor rate target and negative policy rate
Shock end to euro floor avoided ‘enormous’ speculative attack, says SNB’s Jordan
Swiss central bank chairman believes sudden removal of forex controls was least bad policy option and limited reputational damage
SNB chairman dismisses calls for revised inflation targets
Jordan says raising targets would 'harm credibility' built up over decades; sees room for more negative rates
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
Is the pursuit of a common accounting standard for monetary gold a fool’s errand?
More consistent accounting for monetary gold could address transparency concerns and help smaller emerging economies to achieve greater independence by clarifying treasury transfers
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
Algo trading harmed market during Swiss franc crash – paper
Algorithmic traders tended to “consume liquidity and reinforce the price disruption”
SNB expects record profits for 2017
Swiss central bank benefits from high asset prices and a weaker franc
Distorted Swiss surplus not good base for policy – Jordan
Multinationals’ operations, higher nominal rates abroad and Swiss franc appreciation increase the surplus
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 profits hit record high
Swiss franc’s depreciation and high stock prices fuel the rise in revenues in the first three quarters
Weaker franc gives SNB newfound leeway
The central bank may be able to slow or halt its massive foreign exchange acquisitions as the Swiss franc hits its lowest level against the euro since January 2015
BIS paper seeks hints that Swiss franc floor was about to break
Measures derived from option prices indicate credibility fell before floor was removed; error correction model shows some improvement over random walk
Overvalued Swiss currency is keeping rates low – SNB’s Jordan
The Swiss franc remains “significantly overvalued”, despite low interest rates and forex interventions; expansionary monetary policy makes the franc “less attractive” for investors
SNB launches next new banknote alongside updated app
New 20-franc note incorporates the theme of light not only in design but also in identification of security features; Kurz foil element once again integrated
SNB annual report sheds light on equity investing strategy
Central bank details approach to investing around 20% of its foreign exchange reserves in equities, including diversification, activism and avoidance of political considerations