Switzerland
Run a central bank with new Swiss computer game
SWITZERLAND - The Swiss National Bank has recently posted a new computer game onto its web site. For anyone aspiring to hold the reins of a nation's economy this provides a new and novel way to hone the skills for central banking and take charge of a…
Speeches at the SNB's annual shareholder meeting
SPEECH - At the annual general meeting of the Swiss National Bank in Berne on Apr 20, the president of the Bank Council, Eduard Belser, and SNB chairman, Jean-Pierre Roth, both gave speeches to present the central bank's annual report. Belser reports on…
Swiss mon policy during 1970s-lessons for Japan
CENTRAL BANK RESEARCH - Peter Kugler from Basel University and Georg Rich from the Swiss National Bank have published a paper "Monetary Policy Under Low Interest Rates: The Experience of Switzerland in the late 1970s". Using evidence from Switzerland's…
SNB sells another five tons of gold
SWITZERLAND - The Swiss National Bank sold 5.33 metric tons of gold in the latest 10-day reporting period ended April 10, according to SNB statistics released Apr 13.
BIS Stability Forum's 'to do list'
ARTICLE - The Financial Stability Fourm (FSF), following its meeting on 22/23 March in Washington DC, has released a paper revealing the progress of dozens of initiatives now underway to bolster financial system soundness.
SNB chief economist George Rich retires Nov 01
SWITZERLAND - Georg Rich, chief economist of the Swiss National Bank, has announced that he will take early retirement as of the end of November 2001.
SNB profits boosted by gold revaluation
SWITZERLAND - In its 2000 annual report released on Apr 3, 2001, the Swiss National Bank said that net profit for 2000 had jumped to 28.2 billion Swiss francs ($16.3 billion), boosted by a one-off 27.7 billion franc revaluation of gold holdings.
SNB's Bruno Gehrig speech on the euro
SPEECH - Bruno Gehrig, vice-chairman of the Swiss National Bank, gave a speech on Mar 27, 2001 in front of the Swiss Chamber of Industry and Commerce of the Southern Upper-Rhine Region about the euro two years on and its impact on the Swiss economy and…
SNB announces next tranche of gold sales
The Swiss National Bank is to sell 100 tonnes of gold by September
Swiss franc falls following SNB loosening
Following the SNB's rate cut yesterday the swiss franc has dropped on forex markets.
BIS sets up Asia-Pacific consultative council
The Bank for International Settlements (BIS) said on Mar 12, 2001 it had set up an Asian Consultative Council comprising governors of its central bank members in the region.
Information flows during Asian crisis-BIS paper
In a BIS working paper "Information flows during the Asian crisis: Evidence from closed-end funds" Benjamin H Cohen and Eli M Remolona look at the collapse of Asian stock markets that took place over several months in 1997 and ask what information was…
Case for Eurozone monetary indicators? - Svensson
In a Bank for International Settlements working paper "Money and inflation in the Euro Area: A case for monetary indicators?" Stefan Gerlach and Lars E O Svensson find that the "real money gap" (the gap between current real balances and long-run…
Swiss SNB gold sales total 5.4 tons in 10 days
The Swiss National Bank said on Feb 20 its gold reserves fell by CHF77.6 million to CHF34.33 billion in the 10-day reporting period to Feb. 20, 2001.
CPSS revises glossary of payment system terms
A revised version of the CPSS / BIS publication "A glossary of terms used in payment and settlement systems" is now available for download on the BIS website.
'Suing the BIS'- by William Hall
William Hall of the Financial Times reports on the difficulties the Bank for International Settlements has got into as it struggles to counter the accusation that the price it has offered to buy back its shares from the private sector is "absurdly low".
BIS urges vigilance on asset bubbles
It's time for central bankers to get tough on bubbles, according to a top official at the Bank for International Settlements. Overly high stock and property prices should prompt central bankers to take interest rate action in the same way rising wage…
No Swiss monetary change needed now - Gehrig
Swiss National Bank Vice Chairman Bruno Gehrig was quoted in a newspaper interview on Feb. 6, 2000 as saying he saw no need to change Swiss monetary policy at this stage despite an economic slowdown. "The signs that growth is slowing are apparent and…
Trichet backs disputed BIS share buyback plan
Bank of France governor Jean-Claude Trichet said on Wednesday that he believed a disputed plan by the Bank for International Settlements to buy out private shareholders was fair.
Threat to bankers over BIS offer
Twelve central bankers have been threatened with legal action by a Paris-based shareholders' group unless they vote against terms offered by the Bank for International Settlements to buy back the 13.73% of its shares in private hands.
SNB must guard against currency appreciation-OECD
The monetary policy of the Swiss National Bank is currently appropriate for domestic economic conditions, but the SNB must monitor the effect of European Central Bank rate policy on exchange rates and guard against too sharp a rise in the Swiss franc…
BIS says US gold scheme suit 'without merit'
The Swiss-based Bank for International Settlements rejected as baseless on Tuesday a US lawsuit alleging the BIS conspired with central banks and major international investment houses to keep the price of gold low.
Swiss franc ends off lows after SNB holds fire
The Swiss franc ended off lows against the dollar after the Swiss National Bank left interest rates unchanged, as expected, and said it detected no major inflationary pressure on the horizon.
SNB to publish studies to explain forecasts
Swiss National Bank chairman Hans Meyer said on Friday the bank intended to publish several studies in the near future which would explain its forecasting activities in some detail.