FOREX TradingCharts.com

Financial News: Swiss Central Bank Introduces Policy Rate

Swiss Central Bank Introduces Policy Rate

06/13/2019 - 04:05:00 (RTTNews)

(RTTNews) - The Swiss National Bank said it is introducing the SNB policy rate, replacing the three-month Libor, saying the future of the Libor is not guaranteed.

In the monetary policy assessment on Thursday, the SNB said it is maintaining the expansionary monetary policy as before.

Interest on sight deposits held by banks at the SNB currently corresponds to the SNB policy rate and remains at ?0.75 percent. The interest on sight deposits was unchanged at -0.75 percent.

The central bank aims to keep Swiss franc money market rates close to the SNB policy rate.

The SNB said the Swiss franc is still highly valued.

The bank said the negative interest rate and the willingness to intervene in the foreign exchange market as necessary remain essential in order to keep the attractiveness of Swiss franc investments low and thus ease pressure on the currency.

Further, the bank raised its inflation forecast for 2019 to 0.6 percent from 0.3 percent. The projection for 2020 was raised to 0.7 percent from 0.6 percent.

The central bank continues to expect the economy to grow by around 1.5 percent in 2019.

The Swiss big banks Credit Suisse and UBS have slightly improved their capital situation, despite moderate deterioration in economic and financial conditions, the Financial Stability Report said.

The FSR noted that imbalances in mortgage and residential real estate markets pose risks to financial stability. The SNB assessed that targeted measures are necessary for residential investment property lending.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Russia Slashes Key Interest Rate, Signals More Easing (24 min(s), 32 sec(s) ago)
(RTTNews) - Russia's central bank cut the key interest rate for the first time in over a year ...Full Story»

U.S. Business Inventories Climb In Line With Estimates In April (25 min(s), 32 sec(s) ago)
(RTTNews) - After reporting virtually no change in U.S. business inventories in the previous month ...Full Story»

U.S. Consumer Sentiment Deteriorates Amid Concerns About Higher Tariffs (18 min(s), 32 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has deteriorated in the month of June, according to a r ...Full Story»

U.S. Industrial Production Rises More Than Expected In May (03 min(s), 32 sec(s) ago)
(RTTNews) - Reflecting a substantial rebound in utilities output, the Federal Reserve released a r ...Full Story»

U.S. Retail Sales Rise 0.5% In May, April Data Revised Significantly Higher (21 min(s), 32 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales rose b ...Full Story»

U.S. Retail Sales Climb 0.5% In May (44 min(s), 32 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales rose b ...Full Story»

China Industrial Production Growth Weakens (10 min(s), 32 sec(s) ago)
(RTTNews) - China's industrial output grew at a weaker pace in May as higher tariffs imposed b ...Full Story»

Italy's Inflation At 13-Month Low (14 min(s), 28 sec(s) ago)
(RTTNews) - Italy's consumer price inflation slowed more than initially estimated to a 13-mont ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Business Inventories Climb In Line With Estimates In April

06/14/2019 - 10:19 AM (RTTNews)
(RTTNews) - After reporting virtually no change in U.S. business inventories in the previous month ...Full Story>>

Russia Slashes Key Interest Rate, Signals More Easing

06/14/2019 - 10:18 AM (RTTNews)
(RTTNews) - Russia's central bank cut the key interest rate for the first time in over a year ...Full Story>>

U.S. Consumer Sentiment Deteriorates Amid Concerns About Higher Tariffs

06/14/2019 - 10:12 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. has deteriorated in the month of June, according to a r ...Full Story>>

U.S. Industrial Production Rises More Than Expected In May

06/14/2019 - 09:57 AM (RTTNews)
(RTTNews) - Reflecting a substantial rebound in utilities output, the Federal Reserve released a r ...Full Story>>

U.S. Retail Sales Rise 0.5% In May, April Data Revised Significantly Higher

06/14/2019 - 09:15 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales rose b ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.