Report on Swiss banks condition in 201810 July 2019
Commercial banks in Switzerland managed to hit higher profits in 2018, while mortgage loans reached CHF1 trillion level, as consumers took advantage of low interest rates – these are some of findings of the SNB report for 2018 on the condition of private banks’ – both domestic and foreign-controlled – industry.
SNB to issue cryptocurrency? EUR CHF rate stable27 June 2019
The operator of the Swiss stock exchange, SIX Group revealed it would like to see the Swiss National Bank issuing some form of cryptocurrency that would be used to settle payments on SIX’s new digital assets platform. SIX is about to launch the platform and is looking for a mean of settling transactions on it.
Euro franc exchange rate has reached its lowest level in a year.20 June 2019
The franc continues to get stronger against the euro. The euro franc exchange rate fell below the 1.1115 francs per euro today after 15:00, which is the lowest level since 2017.
Exchange rates ahead of FED’s statement18 June 2019
FED has started on Tuesday 18th June its two-day meeting that will end with a statement on economic forecasts. Investors highly anticipate the statement, and this had influence on currencies’ exchange rates on Tuesday and Wednesday.
SNB dumps LIBOR, sticks with its loose monetary policy14 June 2019
The Swiss National Bank announced its plan to scratch LIBOR and introduced the new policy rate. At the same time, it pledges to keep the ultra-loose monetary policy, even though it acknowledges that the Swiss franc is “highly valued”. The reaction on markets was further strengthening of CHF exchange rate.