This move has been typed as a safe, in-house appointment and follows the SNB succession trends. Widely seen as Jordan’s personal successor choice, Schlegel will also become the head of Department I in Zurich. At age 47, he will be the second-youngest chairman in the history of this institution. The Swiss government also announced that…
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In a Reuters poll, two-thirds of economists predicted this interest rate decrease. The Swiss franc (CHF) buckled somewhat after this announcement and was down 0.3% against the EUR and 0.5% against the USD at one stage. Don’t miss out the latest news, subscribe to LeapRate’s newsletter The SNB’s predictions peg inflation at 1.3% for 2024,…
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This makes it the first developed nation to cut interest rates after the COVID-19 pandemic, the fall of Credit Suisse, the onset of the war in Ukraine, and persistent inflation pressures. Switzerland’s central bank explained its decision by stating that local inflation will probably remain below 2% for the foreseeable future. Despite this announcement and…
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The acquisition turned UBS into a colossus with a current market cap of approximately $102.46bn. Based on Reuters information, its balance sheet totals more than $1.6tn, which is roughly double the Swiss economy. On paper, this financial giant may seem unsinkable, but economists argue that UBS is “too big to save”. The inability of Credit…
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Fracking uses high-pressure liquids to extract subterranean fossil fuels. According to a recently published Yale paper, this process generates copious amounts of wastewater, emits greenhouse gases, and causes air and noise pollution. Consequently, it disturbs natural habitats and migratory patterns, while causing land degradation. ______________________________________________________________________ Don’t miss out the latest news, subscribe to LeapRate’s newsletter…
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SIX, the index provider for the Swiss Market, has just announced that it has licensed the SARON (Swiss Average Rate Overnight) to the derivative exchange EUREX as underlying for Futures contract. SARON represents the overnight interest rate of the secured funding market for Swiss franc (CHF). It is based on transactions and quotes made on…
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The following post is based on research from Arnaud Masset, Market Analyst at Swissquote Group Holding SA (SWX:SQN). For more of Arnaud's research see Swissquote Research. The Swiss National Bank reported a profit of CHF 1.2 billion for the first half of 2017, compared to CHF 7.9 billion for the first quarter. The sharp appreciation of the…
Read more... and this is not going to stop.
Read moreThe following commentary on the monetary policy decision by the European Central Bank is courtesy of Laurent Bakhtiari, Market Analyst at IG Switzerland. [divide] As suggested in our previous comment, the ECB decreased its main refinancing rate to 0.00%. However, the ECB did not decide to act solely on this rate, it also cut the…
Read moreThe following guest post is courtesy of Natallia Hunik, Global Head of Sales at Advanced Markets and Fortex. [divide] In my opinion, last year’s SNB decision to remove the 1.20 floor on EURCHF acted as a catalyst, reshaping how we now view and approach the FX industry. As we observed throughout 2015, the SNB move radically altered…
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