Search Results for: Swiss franc
Here’s What the Swiss Central Bank Just Did and Why It’s Such a Shocker
January 19th, 2015
Today the Swiss National Bank shocked the world when it announced it would remove the cap it had in place to prevent the Swiss franc from rising too high against the euro. Here’s what that means and what it’s ...
Newspapers condone Swiss National Bank’s decision
January 19th, 2015
The Swiss National Bank’s decision on Thursday to do away with a lower limit of CHF1.20 on the exchange rate for the euro dropped like a bomb on pretty much everyone both inside and outside of the country. Newspapers ...
Swissquote builds provisions following the decision of the SNB
January 16th, 2015
The surprising decision from the Swiss National Bank (SNB) to remove the 1.20 floor on the EUR/CHF has consequences on Swissquote Bank. Many clients were following the confirmed longstanding strategy from the SNB and were anticipating a weakening of the Swiss Franc against the ...
Goldman Sachs Trade Was Caught Short by Swiss Bank Move
January 16th, 2015
The Swiss move to scrap the floor that kept its currency’s strength in check against the euro caught most people by complete surprise. Among them: Goldman Sachs GS -0.97%. One of its key trading ideas for 2015 has been ...
Swiss Stocks Tumble, European Equities Rise After SNB
January 15th, 2015
Stocks in Switzerland tumbled, led by the nation’s exporters, while the Euro Stoxx 50 Index rose, after the Swiss National Bank (SNBN) unexpectedly ended its minimum exchange rate. The Swiss Market Index plummeted 8.7 percent at 2:14 p.m. in ...
Swiss National Bank press conference on Discontinuation of the minimum exchange rate
January 15th, 2015
Discontinuation of the minimum exchange rate The Swiss National Bank (SNB) has decided to discontinue the minimum exchange rate ofCHF 1.20 per euro with immediate effect and to cease foreign currency purchases associated with enforcing it. The minimum exchange rate ...
Swiss National Bank discontinues minimum exchange rate and lowers interest rate to –0.75%
January 15th, 2015
Target range moved further into negative territory The Swiss National Bank (SNB) is discontinuing the minimum exchange rate of CHF 1.20 per euro. At the same time, it is lowering the interest rate on sight deposit account balances that exceed a ...
Swiss National Bank introduces negative interest rates
December 18th, 2014
Minimum exchange rate reaffirmed, and target range for threemonth Libor lowered into negative territory The Swiss National Bank (SNB) is imposing an interest rate of –0.25% on sight deposit account balances at the SNB, with the aim of taking the three-month ...
Citi Sees Gold as Bitcoin Says Swiss Vote Makes No Sense
November 27th, 2014
The initiative requiring the Swiss National Bank to hold a fixed portion of its assets in gold makes no sense, according to Citigroup Inc., which said the metal was the equivalent of the virtual currency bitcoin. “There is no economic or ...
Swiss economy influenced by Eurozone
September 3rd, 2014
Switzerland’s economy unexpectedly flatlined in the second quarter as trade took a hit from stagnation in its main export market, Europe, and a dip in construction spending. The data, missing forecasts of a 0.5 per cent increase from the ...
