Wednesday , May 18 2022
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Tag Archives: Featured

Swiss central bank rejects ‘creative’ demands to change course

The Swiss National Bank is not prepared to release any further reserves. Keystone / Martin Ruetschi The Swiss National Bank (SNB) continues to beat off demands to fight inflation by raising interest rates and to distribute more reserves to cantons and other causes. SNB president Barbara Janom Steiner showed signs of frustration in a speech on Friday that defended the policies of the central bank. “There are ever more varied proposals – and indeed, increasingly,...

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Martin Schlegel wird neuer SNB-Vizepräsident

Schlegel (Jahrgang 1976) wird laut Mitteilung vom Mittwoch per Anfang August die Leitung des II. Departements der SNB übernehmen. Der neue Vize-Chef ist ein SNB-Urgestein. Er ist seit knapp zwanzig Jahren in verschiedenen leitenden Positionen für die SNB tätig, zuletzt seit September 2018 als stellvertretendes Mitglied des Direktoriums im I. Departement. Schlegel bringe mit seiner hohen Fachkompetenz und seiner breiten, langjährigen Erfahrung in notenbankpolitischen...

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SNB Governing Board: Federal Council appoints Martin Schlegel as Vice Chairman of the Governing Board

Petra Gerlach and Attilio Zanetti become Alternate Members of the Governing Board At its meeting of 4 May 2022, the Federal Council appointed Martin Schlegel as Vice Chairman of the Governing Board of the Swiss National Bank with effect from 1 August 2022. He will succeed Fritz Zurbrügg on the Governing Board when the latter steps down at the end of July 2022. Martin Schlegel has been a member of the Enlarged Governing Board and Deputy Head of Department I since 1...

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Aktien – Wie «Amateure» sich an der Börse selber helfen können

Die Kolumne «Gopfried Stutz» erschien zuerst im Credit Suisse und UBS liefern uns ein schönes Lehrstück. Die UBS verspekulierte sich in den USA derart, dass die Schweizerische Nationalbank deren faule Kredite in der Finanzkrise von 2008 übernehmen und somit die Grossbank vor dem Kollaps retten musste. Derweil vermochte die Credit Suisse die Verluste selber zu stemmen und erhielt dafür Anerkennung. Heute ist es gerade umgekehrt: Die UBS schreibt wieder ansprechende...

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Interim results of the Swiss National Bank as at 31 March 2022

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...

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Macro Week 2022: Thomas Jordan

At this critical juncture for the global economy and monetary policy, the Peterson Institute for International Economics is convening central bankers and finance officials from around the world for our annual Macro Week—a series of speeches and onstage discussions moderated by PIIE President Adam S. Posen.Thomas Jordan (Chairman, Swiss National Bank) speaks on April 19, 2022. For more information, visit: https://www.piie.com/events/macro-week-2022Follow the...

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Swiss Financial Accounts: Household wealth in 2021

The Swiss National Bank is today publishing financial accounts data for Q4 2021. Data on household wealth are thus available for the whole of 2021; a commentary is provided below. This is followed by a detailed look at the development of the financial net worth of the Swiss economy’s institutional sectors since the onset of the coronavirus pandemic. Financial wealth of households increased significantly in 2021 Household financial assets increased by CHF 202 billion...

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SNB Sight Deposits: ECB Rate Hikes?

Update May, 05, 2022:  Sight Deposits have risen by +2.5 bn CHF, this means that the SNB is intervening and buying Euros and Dollars. Since one year we see the inflation scenario I was speaking about before.During high inflation periods both the Swiss franc and gold must go up. This however, can be countered by rising rates. Finally the ECB has started speaking about rate hikes.  Rising Interest Rates: There are some periods when the Fed and the ECB...

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Geldcast update: calls for a more transparent Swiss National Bank

The Swiss National Bank (SNB) is very opaque by international standards. That has to change, says Yvan Lengwiler, professor of economics at the University of Basel. He explains his proposals in the latest Geldcast update. “There is no right to secrecy,” says Yvan Lengwiler – not even at the Swiss National Bank. He has joined forces with Stefan Gerlach of the EFG Bank and Charles Wyplosz, a professor at the Graduate Institute in Geneva, to form the “SNB...

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Macro Week 2022: Thomas Jordan

At this critical juncture for the global economy and monetary policy, the Peterson Institute for International Economics is convening central bankers and finance officials from around the world for our annual Macro Week—a series of speeches and onstage discussions moderated by PIIE President Adam S. Posen.Thomas Jordan (Chairman, Swiss National Bank) speaks on April 19, 2022. For more information, visit: https://www.piie.com/events/macro-week-2022Follow the...

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