Real estate continues to climb, other prices falling in Switzerland

Government may now consider intervention ZURICH, SWITZERLAND – Thomas Jordan, head of the Swiss National Bank, Tuesday called the continuing growth in the mortgage market and rising housing prices “worrisome”, saying a real estate bubble is developing. His remarks come a day after the federal government published its January consumer price index, the CPI, which […]

Swiss central bank to maintain interest rates, CHF1.20/euro cap

Swiss National Bank says its policy is paying off, expects 1% growth as economy stabilizes ZURICH, SWITZERLAND – The Swiss National Bank Thursday 15 March issued a relatively optimistic quarterly report despite the Ides of March date. It confirmed that it is maintaining its CHF1.20 to the euro exchange rate cap, and is keeping in […]

Geneva meeting pushes to get humanitarian aid to Syrians

Tunis conference on Syria goes ahead without China, Russia Deaths Thursday include 13 members of one family GENEVA, SWITZERLAND – Syria’s neighbours, other key countries and international organizations met in Geneva Thursday 23 February at the invitation of Switzerland to resolve a number of issues related to the tough task of getting humanitarian aid into […]

Swiss central bank steps in again to cut franc’s strength

ZURICH, SWITZERLAND – The Swiss National Bank said Wednesday morning 10 August it was taking new measures against the strength of the Swiss franc, following its intervention last week, which failed to stop the flow into the currency as a haven.It is not ruling out further action. “The SNB aims to rapidly expand banks’ sight […]

Swiss gov’t says it’s ready to intervene, but cautions against short-term reaction

BERN, SWITZERLAND – The Swiss Federal Council says it is closely watching the record high Swiss franc situation, studying options and is ready to act if necessary, but it cautions against knee-jerk reactions that provide only short-term solutions. It issued a cautious statement Tuesday morning 9 August about the extraordinary meeting held by the governing […]

European Central Bank to buy Spanish, Italian bonds (update)

Update 8 August, 07:30  GENEVA, SWITZERLAND – The European Central Bank late Sunday agreed to buy Spanish and Italian government bonds, Reuters reports late Sunday night 7 August, based on information from a “monetary source” and noting that the ECB will shortly issue a statement to that effect. “‘The Euro system will intervene very significantly […]

Swiss central bank expects half-year loss

UBS stabilization fund not included: will make “significant positive contribution” Zurich, Switzerland (GenevaLunch.com) – The Swiss National Bank expects a CHF4 billion loss for the first half of 2010, it announced Tuesday morning 21 July. The loss is the result of its active role in foreign currency markets from January to June, with CHF132b invested […]

Switzerland holds off on bank tax

Preventive measures but also intervention options part of new Swiss regulatory system Bern, Switzerland (GenevaLunch) – Switzerland will not create a new tax on banks unless there is a coordinated international effort to do so. The announcement Wednesday 28 April was the latest following a series of decisions made by the Swiss government this week […]