SNB's Schlegel: we cannot rule out negative interest rates

Ladies and gentlemen, I am pleased to be here again at the European Banking Congress. It is my particular pleasure to share the stage today with my French colleague and dear ...

As a small open economy with a safe-haven currency, Switzerland is strongly influenced by global economic fluctuations. Because of the safe-haven nature of the Swiss franc, the impact of declines in global demand on the Swiss economy tends to be reinforced by an appreciating currency. As a result, global economic downturns have repeatedly been followed by significant decreases in inflation. Given the strong influence of developments abroad on Swiss inflation, the SNB needs a monetary policy framework that allows for some flexibility in terms of accepted inflation rates. Accordingly, the SNB defines price stability as any inflation rate between 0% and 2%, and seeks to keep inflation within this range over the medium term. This has allowed the SNB to respond flexibly to shocks and continuously weigh up the costs and benefits of its monetary policy measures. While there have been episodes when inflation was temporarily outside the price stability range, it has always returned relatively quickly to values within that range. post: SNB CHAIRMAN: RECOGNISES SAFE HAVEN NATURE OF SWISS FRANC; DECLINES IN GLOBAL ECONOMY HIT SWITZERLAND HARDER DUE TO CURRENCY'S APPRECIATION post: SWISS NATIONAL BANK CHAIRMAN: **SWITZERLAND NEEDS FLEXIBLE INFLATION TARGET, AS IT CURRENTLY HAS **INFLATION TARGET HAS ALLOWED CENTRAL BANK TO RESPOND FLEXIBLY TO SHOCKS **CENTRAL BANK'S MAIN TOOLS ARE POLICY INTEREST RATE, FOREX INTERVENTIONS **RECOGNISES SAFE HAVEN…

On a monthly basis, the New Housing Price Index (NHPI) fell 0.4% in October, the largest monthly decline since April 2009. However, the picture was mixed across the country, as ...

post: ECB'S VILLEROY: WE SHOULD REACH 2% GOAL EARLIER THAN EXPECTED IN 2025. post: ECB'S VILLEROY: THE EUROPEAN ECONOMY IS ACHIEVING A SOFT LANDING. post: ECB'S VILLEROY: WE WILL PAY CLOSE ATTENTION TO RISK OF UNDERSHOOTING TARGET, KEEPING ECONOMIC ACTIVITY UNNECESSARILY SUBDUED post: Doesn't sound like 50 either. ECB'S VILLEROY: WE ARE NOT BEHIND THE CURVE TODAY