Swiss National Bank (SNB)
European rates: Norway expects more tightening next year
Switzerland raises rates 50bp and Denmark raises rates in line with ECB
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
Fiscal co-ordination threatens independence, SNB president says
Central banks must not let Covid-19 era policies continue, Thomas Jordan warns
The risks of a simultaneous and rapid global tightening
Economists call for a more co-ordinated and gradual increase in interest rates
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
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
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
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
SNB profits rise to $28.5 billion
Central bank reaffirms pledge to halt appreciation of the franc
Global markets show signs of strain as Russia sanctions bite
Flight to safe havens is starting to create tensions in dollar funding markets
BIS-SNB project links wholesale CBDC to core banking system
Project Helvetia’s second phase demonstrates integration of DLT with standard systems is possible
SNB predicts rise in profits for 2021
Early estimate suggests profits will be up around Sfr5 billion on 2020 figure
Material world: the enduring appeal of paper banknotes
Central banks have used space-age polymers to make banknotes for decades. So why does paper remain predominant in banknote production?
GFXC names SNB’s Maechler as new chair
Swiss central banker succeeds Guy Debelle
People: Arce to lead ECB economics directorate
SNB deputy to retire; Vanuatu names new deputy; Glenn Stevens to chair Macquarie; and more
Project Jura executes ‘real-life’ cross-border CBDC settlement
“Dual-notary” structure could help protect monetary sovereignty, says Benoît Cœuré