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...The SNB’s attempts to control the franc also resulted in a huge expansion of the central bank’s balance sheet....
...Economists had expected the SNB to hold rates steady on Thursday, though a minority had predicted a surprise cut, citing the bank’s history of making bold decisions....
...The SNB reduced its headline rate by 25 basis points to 1.5 per cent, making it an outlier among western central banks....
...The governor of the Swiss National Bank is stepping down after more than 10 years at the helm. Thomas Jordan informed the SNB he would step down at the end of September....
...Why have other central banks not lowered rates? How does the SNB’s rate cut affect the value of the franc? Explain Ariel Slonim at MRU Econinbox...
...As someone who started in international banking in Switzerland in the early 1970s, I always have to smile when I read an article that predicts that the era of Swiss franc appreciation is coming...
...The Swiss National Bank has become the latest central bank to leave its main interest rate on hold, keeping its policy rate at 1.75 per cent....
...Another SNB suggestion: banks should prepare a minimum amount of assets to pledge to the central bank....
...Although the SNB said all the expected things about having fought an “effective” battle against inflation, its latest inflation forecast was “significantly lower than that of December” and it said unemployment...
...Like Ajay Banga, the bank president, we are not keen on buzzwords....
...The policy has been successful, since Swiss inflation is now back below 2 per cent, meaning that the SNB is the only major central bank currently hitting its inflation target....
...The Swiss franc fell 0.77 per cent against the dollar to $1.1044 after the Swiss National Bank unexpectedly paused rates, setting the tone for a busy day of central bank decisions....
...These include additional contributions for the International Development Association’s enhanced crisis response window, significantly increasing donor contributions to IDA’s upcoming replenishment...
...As the bank’s situation deteriorated, the existing accounting rules for those tax assets created a SFr2bn hole on the bank’s balance sheet, the SNB said....
...It followed her duet with Davido, “Na Money”. There were numerous other guests during the set....
...The president of the Swiss National Bank has declined to comment on the $17bn wipe out of AT1 bonds as part of the Credit Suisse rescue deal, saying the decision was the responsibility of Finma, the Swiss...
...In our view the Bank of England is again mismanaging monetary policy....
...Switzerland’s national bank raised interest rates for the fifth consecutive time on Thursday, despite inflation moderating sharply in the wealthy alpine country....
...There’s no question that — under certain circumstances — FINMA and the Swiss National Bank (SNB) have the authority to cancel the AT1s....
...The Swiss authorities, on the other hand, seem to have given a largely defensive response on the part of the supervisors at Finma, while the SNB has called for quite a comprehensive set of changes to bank...
...Barclays has appointed Na Wei as global head of leveraged finance. She previously led the firm’s Emea leveraged finance business....
...The SNB’s liquidity provision could qualify as decisive action! One can only hope it doesn’t spook markets too badly....
...Because the SNB has primarily been interested in stemming the franc’s appreciation, it only purchased overseas equities, making it a small fish in a big sea....
...In addition, the SNB will provide liquidity to the globally active bank if necessary....
...SNB, formed by the 2021 merger of the Samba Financial Group and National Commercial Bank, has a share of about 30 per cent of the country’s banking market....
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