Swiss monetary policy

Unchanged Swiss Monetary Policy after Quarterly Review

June 19, 2014

Almost three years have passed since the current policy stance was established to ward off deflation.  On August 3, 2011, the Swiss National Bank sliced the target 3-month Libor interest rate range and point to 0.0-0.25% and “around zero,” respectively.  A month later, officials introduced an asymmetric exchange rate objective, capping Swiss franc strength against […] More

Swiss National Bank Quarterly Monetary Policy Review Leaves Settings in Place

March 20, 2014

Swiss monetary policy settings were left unchanged, and the released statement contained many elements common to recent quarterly reviews other than the retention of cap of 1.2000 francs per dollar to be defended by unlimited intervention if necessary, a 3-month Libor interest rate target range of 0.0-0.25%, and a point interest rate target pinned at […] More

Swiss National Bank: No Policy Changes

September 19, 2013

SNB officials concluded their quarterly monetary policy review with no change in the stance and a statement that Acknowledges lessening global financial market stress, Retains an interest rate policy of virtually zero within a 3-month libor target range of 0-0.25%. Pledges to do whatever it takes in the way of intervention and other steps to […] More

No Policy Changes after Swiss National Bank Quarterly Review

December 13, 2012

Swiss monetary officials didn’t change either their interest rate target range nor the maximum franc/euro cross rate level that they stand ready to defend with “utmost determination,” that is unlimited intervention.  Both the interest rate and exchange rate settings are intended to counter deflation and restore eventual low, but positive, inflation.  Aggressive interest rate reductions […] More

Swiss National Bank

June 14, 2012

The Swiss National Bank (SNB) will maintain the minimum exchange rate of CHF 1.20 per euro and will enforce it with the utmost determination. It remains prepared to buy foreign currency in unlimited quantities for this purpose. Even at the current rate, the Swiss franc is still high. Another appreciation would have a serious impact […] More

Swiss National Bank Revises Inflation Forecast Marginally Lower

March 15, 2012

The Swiss National Bank, which reviews policy in the final month of each calendar quarter, retained all of its goals. It is keeping a zero-to-0.25% target range for 3-month Libor.  Such has lately hovered just below 0.10%. This range was first set in August 2011, replacing a range zero to 0.75% with a point target […] More