Swiss National Bank (SNB) Chairman Thomas Jordan is speaking at the post-policy meeting press conference on Thursday. The central bank held key rates at 1.75% in the September quarter.
SNB refrains from tightening policy further, holds interest rate steady at 1.75%
LATEST SNB MEASURES TO BATTLE INFLATION
Swiss National Bank (SNB) Vice Chairman Martin Schlegel said on Thursday, the SNB will expand ways for making liquidity available to banks.
SNB Chairman Thomas Jordan is speaking at the post-policy meeting press conference on Thursday. The central bank held key rates at 1.75% in the September quarter.
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September MEETING REVIEW
At its quarterly monetary policy assessment on September 21, the Swiss National Bank (SNB) kept the benchmark Sight Deposit Rate on hold at 1.75%. The rate decision was against the market expectations of a 25 basis points (bps) rate hike to 2.0%.
June MEETING REVIEW
Following its quarterly meeting in June, assessing the monetary policy, the Swiss National Bank (SNB) announced 25 basis points (bps) increase to its benchmark sight deposit interest rate, lifting it from 1.50% to 1.75%, as widely expected.
April MEETING REVIEW
The Swiss National Bank (SNB) announced on Thursday that it left the interest rate on sight deposits unchanged at -0.75% as expected. In its policy statement, the SNB reiterated it remains willing to intervene in the foreign exchange market as necessary to counter the upward pressure on the Swiss franc.
What is the SNB?
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.
Who is SNB chair?
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).
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The World Interest Rates Table
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.