Newly-minted Chairman of the SNB Martin Schlegel hit newswires on Tuesday, cautioning that further rate cuts haven't been ruled out. The incoming Chairman of the SNB officially took the reins of Switzerland's central bank on early Tuesday, and has inherited a central bank still caught in the wake of last year's lopsided management of the merger between 167-year-old Credit Suisse and UBS.
The figures published yesterday morning on the SNB foreign exchange market operations in the second quarter confirmed what the statements made at the last press conference had already indicated, Commerzbank’s FX analyst Michael Pfister notes.
Swiss National Bank (SNB) Vice Chairman Martin Schlegel said in prepared remarks for a press conference on Thursday that “the SNB expands provision of liquidity for Swiss banks.”
The Swiss National Bank (SNB) announced on Thursday that it lowered the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.25% to 1.00% after concluding its quarterly monetary policy assessment.
The Swiss National Bank (SNB) board members decided to cut the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.50% to 1.25%, following its quarterly monetary policy assessment on Thursday.
Following its quarterly monetary policy assessment on Thursday, the Swiss National Bank (SNB) board members decided to cut the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.75% to1.50%. The rate decision came in as a surprise to the markets.
The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.
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Thomas J. Jordan was born in Bienne, Switzerland in 1963. Thomas J. Jordan is a member of the Board of Directors of the Bank for International Settlements (BIS) in Basle and the Steering Committee of the Financial Stability Board (FSB). He is the Governor of the International Monetary Fund (IMF) for Switzerland, and also Chairman of the G10 Central Bank Counterfeit Deterrence Group (CBCDG).
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.