The Swiss National Bank probably didn’t step into currency markets in October to stop the haven run of the franc, according to UBS calculations based on balance sheet data https://t.co/KjZRHgZm1s ...

A reintroduction of negative interest rates faces serious hurdles, though the Swiss National Bank would still be willing to embrace them should that become necessary, according to the institution’s president https://t.co/ZY4gKvVC0q ...

Former Swiss National Bank chief Thomas Jordan said officials shouldn’t rule out a return to negative interest rates, even though the measure is best avoided https://t.co/HFsgxI77gc ...

Core Viewpoint - Major central banks are nearing the end of their rate-cutting cycles, with some, like the U.S. Federal Reserve and Bank of England, having room for further easing [1] Group 1: Central Bank Actions - The Swiss National Bank has maintained its key rate at 0% since June, with inflation unexpectedly falling to 0.1% in October, which is not expected to lead to negative rates [2] - The Bank of Canada cut rates to 2.25%, the lowest in over three years, but signals that further cuts are unlikely [3] - Sweden's Riksbank held its policy rate at 1.75%, indicating stability unless inflation and growth outlooks change [4] - The Reserve Bank of New Zealand cut rates by 50 basis points to 2.5%, with potential for another cut in late November, complicated by inflation at the top of its target band [5] - The European Central Bank held its main deposit rate at 2% for the third consecutive meeting, with traders pricing in less than a 50% chance of further easing by July 2026 [6] - The U.S. Federal Reserve executed a 25 basis point cut but indicated uncertainty in future cuts due to data gaps from the government shutdown, with a reduced probability of a December cut [7][8] - The Bank of England voted 5-4 to keep rates unchanged at 4%, with a potential cut in December following the government's budget announcement [10]

By Naomi Rovnick and Alun John LONDON (Reuters) -The U.S. Federal Reserve has moved back into line with other major rate setters after it cut rates by a quarter point on Wednesday but pushed back against market bets that it would keep going as the Washington shutdown fogs up its forecasting lens. The Bank of Japan and European Central Bank left rates unchanged on Thursday. Here's where 10 major central banks stand after the latest round of meetings: 1/ SWITZERLAND The Swiss National Bank cut its key r ...

Swiss National Bank officials decided against an interest-rate cut last month, assessing their monetary stance to be stimulative enough to stoke inflation https://t.co/UzJ14YrDHQ ...

Core Viewpoint - The Swiss National Bank has decided to maintain its interest rate at 0%, indicating that the current economic outlook and future inflation do not necessitate a shift into negative interest rates [1] Economic Outlook - The decision reflects the Swiss economic outlook, which suggests stability and no immediate need for further monetary easing [1] Inflation Considerations - Future inflation expectations played a significant role in the decision, as the bank assessed that inflation levels do not warrant a reduction in interest rates [1]

Swiss inflation is likely to rise slightly in the coming quarters, Swiss National Bank Chairman Martin Schlegel said on Wednesday, with economic indicators pointing to stable situation with moderate growth. ...

Core Viewpoint - The Swiss National Bank (SNB) significantly increased its foreign currency purchases in Q2 2023 to counteract appreciation pressure on the Swiss franc following U.S. tariff announcements, marking the highest level of interventions in over three years [1][2]. Currency Interventions - The SNB purchased 5.06 billion Swiss francs (approximately $6.36 billion) in foreign currencies during April to June, a notable increase compared to only 1.26 billion francs over the previous five quarters [1][4]. - The interventions were likely aimed at stabilizing the foreign exchange market amid a 7% surge of the franc against the U.S. dollar and a 2.2% increase against the euro in April [2][3]. Economic Context - The appreciation of the franc is seen as a threat to the SNB's goal of maintaining price stability, with annual inflation targeted between 0-2% [3]. - Increased political uncertainty and market volatility have contributed to inflows into the franc, prompting the SNB's actions [2][3]. Future Outlook - The SNB Chairman indicated that the bank would continue to utilize all available tools, including currency interventions, to achieve its inflation targets if necessary [4]. - The SNB faces a dilemma between increasing forex interventions, which could attract negative attention from the U.S., or lowering interest rates below 0%, which is undesirable for the bank [5][6].

The Swiss National Bank made its most significant sales of the franc in more than three years, acting to stem a surge in the currency caused by Trump’s tariff push https://t.co/lZNPSXmH5E ...