Category: Swiss National Bank

Swiss Central Bank Hikes Interest Rates Despite Credit Suisse Turmoil

March 23, 2023
Business & MarketsCompaniesCredit Suisseeconomic policieseconomyEuropeinflationinterest ratesInvestmentMarketsrecessionSwiss National BankWorld
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The Swiss National Bank (SNB) raised its interest rates by 50 basis points despite the turmoil over the Credit Suisse collapse. The SNB made the announcement on March 23, bringing its borrowing rate to 1.5 percent, for its fourth consecutive hike, which was is in line with analysts’ predictions Swiss interests rates were negative 75 percent…

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Federal Reserve Collaborates With Other Central Banks to Establish Liquidity Measures

March 19, 2023
Asia & PacificBank of JapanBusiness & MarketsCanadaeconomic policieseconomyEuropeMarketsSwiss National BankU.S. Federal ReserveUSWorld
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The U.S. Federal Reserve announced on Sunday that it is collaborating with some of the world’s largest central banks to enhance liquidity provision by strengthening the standing of U.S. dollar liquidity swap line arrangements. The central banks will increase the frequency of seven-day maturity operations from weekly to daily to improve the effectiveness of the…

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Federal Reserve, Other Central Banks Announce Joint Liquidity Measures

March 19, 2023
Asia & PacificBank of JapanBusiness & MarketsCanadaeconomic policieseconomyEuropeMarketsSwiss National BankU.S. Federal ReserveUSWorld
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The U.S. Federal Reserve announced on Sunday that it is collaborating with some of the world’s largest central banks to enhance liquidity provision by strengthening the standing of U.S. dollar liquidity swap line arrangements. The central banks will increase the frequency of seven-day maturity operations from weekly to daily to improve the effectiveness of the…

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Swiss Central Bank Loses Over $142 Billion as Franc Strengthens in Value

October 31, 2022
Business & MarketsCentral BankCompanieseconomic policiesEuropeinterest ratesstrong currencySwiss francSwiss National BankWorld
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The Swiss National Bank (SNB) reported a loss of 142.4 billion francs ($142.2 billion) for the first nine months of this year as a stronger franc considerably lowered gains from equity and bond holdings. This is the largest loss in the central bank’s 115-year history, with SNB crediting the loss to rising interest rates and…

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Inflation in Europe: Swiss National Bank Raises Interest Rate by 50 Points

June 16, 2022
Business & MarketseconomyEuropehigh inflationinflationInterest Rate RiseSwiss National BankWorld
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The Swiss National Bank (SNB) raised its policy interest rate on Thursday for the first time in 15 years as it attempts to fight off inflation. The policy hike comes into effect on June 17. “The SNB is tightening its monetary policy and is raising the SNB policy rate and the interest rate on sight…

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Swiss National Bank Opposed to Holding Bitcoin as a Reserve Currency

May 3, 2022
bitcoinBusiness & EconomycryptocurrencycurrencyEuropeMarketsSwiss National BankWorld
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ZURICH—The Swiss National Bank is against buying and holding bitcoin as a reserve currency, Chairman Thomas Jordan said at the central bank’s annual general meeting on Friday. “Buying bitcoin is not a problem for us, we can do that either directly or can buy investment products which are based on bitcoin,” Jordan said. “We can…

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Swiss National Bank Posts $34 Billion Loss as Bond Losses Bite

April 29, 2022
bondBusiness & EconomyCompanieseconomic policieseconomyEuropeinflationInternationalMarketsprofit lossRussia-Ukraine WarstocksSwiss National BankWorld
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ZURICH—The Swiss National Bank reported a first quarter loss of 32.8 billion Swiss francs ($33.75 billion), the central bank said on Thursday, as lower bond prices and the higher franc dented the value of its foreign currency investments. The bank made a loss of 36.8 billion francs from its foreign currency investments built up during…

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