Latest news with #franc
Bloomberg
30-06-2025
- Business
- Bloomberg
SNB Stayed Out of FX Market as Franc Slumped in First Quarter
The Swiss National Bank continued to refrain from steering the franc at the beginning of the year, largely staying out of currency markets for a fifth consecutive quarter while the currency lost value against the euro. The SNB bought foreign exchange worth just 49 million francs ($61 million) from January to March, according to data on Monday. That's in line with previous quarters, which saw Switzerland's central bank purchase comparably small amounts through all of 2024.
Bloomberg
19-06-2025
- Business
- Bloomberg
SNB Policy Setup Means Big FX Interventions Unlikely, UBS Says
Large-scale interventions in the franc by the Swiss National Bank are unlikely even though the currency's strength pushed interest rates to zero, according to economists at UBS. 'The way how the policy rate is implemented is not adapted for persistent foreign currency purchases,' Maxime Botteron, Florian Germanier and Alessandro Bee said in note after the SNB's rate decision on Thursday. 'Systematic foreign currency purchases are unlikely at this stage.'
Bloomberg
19-06-2025
- Business
- Bloomberg
SNB Cuts Interest Rate to Zero in Effort to Stop Franc Inflows
The Swiss National Bank cut its interest rate to zero, seeking to deter investors from pushing up the franc. The quarter-point reduction on Thursday is the sixth consecutive move by officials, and was forecast by most of the economists surveyed by Bloomberg after the currency's strength caused consumer prices to drop for the first time in four years. A minority anticipated an even bigger half-point step.
Bloomberg
16-05-2025
- Business
- Bloomberg
Swiss Had Good Exchange With US on Currency, SNB Says
Switzerland has had productive talks with the US on the central bank's currency interventions, Swiss National Bank President Martin Schlegel said, rejecting the suggestion that the country manipulates the franc's exchange rate. 'We are no currency manipulator,' he said in Lucerne on Friday, adding that 'we had a constructive conversation with the US authorities' on the topic.
Bloomberg
09-05-2025
- Business
- Bloomberg
Swiss Lost Cash Racks Up $1.1 Billion Windfall for Government
Lost banknotes from the 1970s are set to give Switzerland a windfall. A quarter of a century after the Swiss National Bank officially ended its sixth series of franc bills — legal tender from 1976 to 2000 — the value of notes that were never exchanged for newer ones will be distributed to cantons and the government. The total being transfered is 890.6 million francs ($1.1 billion), the central bank said on Friday.
