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S U B S C R I B E
WRS stories about Swiss franc (CHF)
Currency cap stays despite gaining euro
Monday, 28 January, 2013
It appears confidence is still growing in the eurozone, resulting in a weakening of the Swiss franc to about 1.25 against the euro. Nobel economist Joseph Stiglitz told the newspaper Der Sonntag that it might be a good time for the Swiss National Bank to set a different minimum exchange rate to the euro, maybe of 1.25 or 1.30. However, Swiss analysts are less than convinced that is a good idea. WRS’s Tony Ganzer reports:
Monday, 28 January, 2013
It appears confidence is still growing in the eurozone, resulting in a weakening of the Swiss franc to about 1.25 against the euro. Nobel economist Joseph Stiglitz told the newspaper Der Sonntag that it might be a good time for the Swiss National Bank to set a different minimum exchange rate to the euro, maybe of 1.25 or 1.30. However, Swiss analysts are less than convinced that is a good idea. WRS’s Tony Ganzer reports:
'A rebound of trust' as euro hits CHF1.23
Tuesday, 15 January, 2013
The euro hit a more than one-year high against the franc this week—at 1 euro to CHF1.23. The Swiss National Bank has been battling to keep the peg of CHF1.20 to the euro. So, is the euro rebounding and is the franc still overvalued? WRS’s Alex Helmick talks to chief economist, Rudolf Minsch, from the financial interest group economiesuisse:
Tuesday, 15 January, 2013
The euro hit a more than one-year high against the franc this week—at 1 euro to CHF1.23. The Swiss National Bank has been battling to keep the peg of CHF1.20 to the euro. So, is the euro rebounding and is the franc still overvalued? WRS’s Alex Helmick talks to chief economist, Rudolf Minsch, from the financial interest group economiesuisse:
KOF: Swiss economy to 'cool down'
Monday, 7 January, 2013
The Swiss Economic Institute, or the KOF, says the Swiss economy is to “cool down.” It says “prospects for the Swiss economy are noticeably weaker in the new year.” WRS’s Pete Forster talks to Klaus Abberger of the KOF to ask why they felt so gloomy about 2013:
Monday, 7 January, 2013
The Swiss Economic Institute, or the KOF, says the Swiss economy is to “cool down.” It says “prospects for the Swiss economy are noticeably weaker in the new year.” WRS’s Pete Forster talks to Klaus Abberger of the KOF to ask why they felt so gloomy about 2013:
Will Switzerland finally get hit by eurozone woes?
Thursday, 3 January, 2013
It’s not just Switzerland fighting to keep its currency value lower than markets might put them. Other countries have also acted to intervene ever more directly in currency markets. The most recent was Japan’s government ordering massive currency printing to weaken the yen and help its exporters. The Wall Street Journal said many central banks have tried to weaken currencies following “super-loose” monetary policies adopted by the U.S. Federal Reserve, and the European Central Bank. WRS’s Tony Ganzer spoke about this trend with Ambrose Evans-Pritchard, international business editor of the UK newspaper, The Telegraph:
Thursday, 3 January, 2013
It’s not just Switzerland fighting to keep its currency value lower than markets might put them. Other countries have also acted to intervene ever more directly in currency markets. The most recent was Japan’s government ordering massive currency printing to weaken the yen and help its exporters. The Wall Street Journal said many central banks have tried to weaken currencies following “super-loose” monetary policies adopted by the U.S. Federal Reserve, and the European Central Bank. WRS’s Tony Ganzer spoke about this trend with Ambrose Evans-Pritchard, international business editor of the UK newspaper, The Telegraph:
How the franc will fare in year ahead
Tuesday, 1 January, 2013
WRS looks ahead to what 2013 will bring, financially speaking. The Wrap’s Alex Helmick talks to Marc Bürki, head of Swissquote, Switzerland’s largest online trading house, about what he thinks the good investments will be and how the Swiss franc will fare:
Tuesday, 1 January, 2013
WRS looks ahead to what 2013 will bring, financially speaking. The Wrap’s Alex Helmick talks to Marc Bürki, head of Swissquote, Switzerland’s largest online trading house, about what he thinks the good investments will be and how the Swiss franc will fare:
Banks charge negative interest rate on Swiss franc holdings
Tuesday, 9 October, 2012
Two giant custody banks, State Street Bank and Bank of New York Mellon Corporation, are charging negative rates for investors holding the Swiss franc, according to a report from Bloomberg news. So instead of paying interest, clients are paying them. However, custody banks are not traditional banks, for instance where mortgages are drawn, but rather a place where large investors and pension funds keep money and assets. Rudolf Minsch, chief economist at the Swiss Business Federation, explains to WRS’s Alex Helmick how this is tied to the eurozone crisis:
Tuesday, 9 October, 2012
Two giant custody banks, State Street Bank and Bank of New York Mellon Corporation, are charging negative rates for investors holding the Swiss franc, according to a report from Bloomberg news. So instead of paying interest, clients are paying them. However, custody banks are not traditional banks, for instance where mortgages are drawn, but rather a place where large investors and pension funds keep money and assets. Rudolf Minsch, chief economist at the Swiss Business Federation, explains to WRS’s Alex Helmick how this is tied to the eurozone crisis:
Standard & Poor's criticizes SNB euro bond purchases
Wednesday, 26 September, 2012
A dispute is brewing between the Swiss National Bank (SNB) and the ratings agency Standard & Poor’s. The ratings agency says the bank is distorting yields of certain eurozone countries by buying some 80 billion euros worth of bonds this year. The SNB told the Financial Times that number is “unfounded.” Economist Beat Kappeler explains to WRS’s Alex Helmick what is going on:
Wednesday, 26 September, 2012
A dispute is brewing between the Swiss National Bank (SNB) and the ratings agency Standard & Poor’s. The ratings agency says the bank is distorting yields of certain eurozone countries by buying some 80 billion euros worth of bonds this year. The SNB told the Financial Times that number is “unfounded.” Economist Beat Kappeler explains to WRS’s Alex Helmick what is going on:
Why SNB will win its bet on the euro
Wednesday, 5 September, 2012
Tomorrow, it will be one year since the Swiss National Bank decided to take drastic steps to fight the strong franc. Since then, it has managed to keep the euro from trading below CHF1.20. The decision was hailed initially as giving some oxygen to the export sector. But as the year has dragged on more voices have become worried that Switzerland is now linked to a currency with serious woes. But today the edition of Bilan magazine that hits the newsstands says don’t listen to the naysayers. Myret Zaki is the deputy editor. She wrote an article discussing why she thinks the Swiss National Bank will win its bet on the euro:
Wednesday, 5 September, 2012
Tomorrow, it will be one year since the Swiss National Bank decided to take drastic steps to fight the strong franc. Since then, it has managed to keep the euro from trading below CHF1.20. The decision was hailed initially as giving some oxygen to the export sector. But as the year has dragged on more voices have become worried that Switzerland is now linked to a currency with serious woes. But today the edition of Bilan magazine that hits the newsstands says don’t listen to the naysayers. Myret Zaki is the deputy editor. She wrote an article discussing why she thinks the Swiss National Bank will win its bet on the euro:
Economist: SNB's 'enormous' euro holdings not a major concern
Monday, 6 August, 2012
Is the Swiss National Bank in over its head? Last week the SNB came out with its quarterly foreign exchange reserves report. The total holdings now stand at 365 billion francs. It’s a gain of 50 percent in three months and is equivalent to a whopping 62 percent of GDP. Most of that money is in euros. Some observers worry that if the bad news coming out of Europe continues those euros might have to be sold at an enormous loss and that Europe’s pain might well become ours. WRS’s Pete Forster spoke to Beat Kappeler, an economic analyst with the Neue Zurcher Zeitung, and asked him if he was concerned by the figures:
Monday, 6 August, 2012
Is the Swiss National Bank in over its head? Last week the SNB came out with its quarterly foreign exchange reserves report. The total holdings now stand at 365 billion francs. It’s a gain of 50 percent in three months and is equivalent to a whopping 62 percent of GDP. Most of that money is in euros. Some observers worry that if the bad news coming out of Europe continues those euros might have to be sold at an enormous loss and that Europe’s pain might well become ours. WRS’s Pete Forster spoke to Beat Kappeler, an economic analyst with the Neue Zurcher Zeitung, and asked him if he was concerned by the figures:
Should SNB abandon franc-euro exchange cap?
Tuesday, 5 June, 2012
It might seem that not a lot has changed since the Swiss National Bank set a 1.20 exchange rate floor against the euro last September. There’s still uncertainty whether Greece will remain in the euro. And fears of debt troubles in Spain and Portugal are growing. But not everyone’s convinced that the exchange rate cap is the right policy. The latest heavyweight to call for a rethink is former head of UBS, Oswald Grübel. In his weekly newspaper column, he says it’s only a matter of time before the National Bank gives up on its currency cap and that the longer Switzerland sticks with it, the higher the price will be. To find out whether Grübel is a lone voice or speaking for many, WRS’s Vincent Landon spoke to Janwillem Acket, chief economist at Julius Bär, and began by asking him if it was time to abandon the franc-euro cap:
Tuesday, 5 June, 2012
It might seem that not a lot has changed since the Swiss National Bank set a 1.20 exchange rate floor against the euro last September. There’s still uncertainty whether Greece will remain in the euro. And fears of debt troubles in Spain and Portugal are growing. But not everyone’s convinced that the exchange rate cap is the right policy. The latest heavyweight to call for a rethink is former head of UBS, Oswald Grübel. In his weekly newspaper column, he says it’s only a matter of time before the National Bank gives up on its currency cap and that the longer Switzerland sticks with it, the higher the price will be. To find out whether Grübel is a lone voice or speaking for many, WRS’s Vincent Landon spoke to Janwillem Acket, chief economist at Julius Bär, and began by asking him if it was time to abandon the franc-euro cap:
Dateline CH: Perils of the popular (Swiss) currency
Thursday, 31 May, 2012
The Swiss franc is still attracting lots of foreign investors—too many, the Swiss National Bank believes. The BBC’s Imogen Foulkes looks at the perils of a healthy currency amid of sea of sickly euros:
Thursday, 31 May, 2012
The Swiss franc is still attracting lots of foreign investors—too many, the Swiss National Bank believes. The BBC’s Imogen Foulkes looks at the perils of a healthy currency amid of sea of sickly euros:
SNB preps for worst amid eurozone crisis
Tuesday, 29 May, 2012
Uncertainty continues for the eurozone. And many around the world are planning for the worst, including the Swiss National Bank. This weekend the new president of the bank, Thomas Jordan, spoke to several Sunday papers and defended the currency trading floor—where the bank won’t let the euro fall below CHF 1.20. He also said that he wouldn’t exclude additional steps if Greece were to leave the eurozone, or worse. What does he mean and how should we interpret Thomas Jordan’s stance? WRS’s Dave Goodman talked to Rudolf Minsch, chief economist at the Swiss business federation, economiesuisse:
Tuesday, 29 May, 2012
Uncertainty continues for the eurozone. And many around the world are planning for the worst, including the Swiss National Bank. This weekend the new president of the bank, Thomas Jordan, spoke to several Sunday papers and defended the currency trading floor—where the bank won’t let the euro fall below CHF 1.20. He also said that he wouldn’t exclude additional steps if Greece were to leave the eurozone, or worse. What does he mean and how should we interpret Thomas Jordan’s stance? WRS’s Dave Goodman talked to Rudolf Minsch, chief economist at the Swiss business federation, economiesuisse:
IMF weighs in on 1.20 franc-euro exchange rate
Friday, 23 March, 2012
This week the International Monetary Fund rolled out its annual analysis of Switzerland, and it had plenty to say. The report covered the housing market, banking policy and of course the 1.20 franc minimum exchange rate against the euro set by the Swiss National Bank last year. WRS’s Tony Ganzer spoke with Enrica Detragiache, the IMF’s mission chief for Switzerland, who praised the currency market move by the Swiss, but she tempered that praise with a caution:
Friday, 23 March, 2012
This week the International Monetary Fund rolled out its annual analysis of Switzerland, and it had plenty to say. The report covered the housing market, banking policy and of course the 1.20 franc minimum exchange rate against the euro set by the Swiss National Bank last year. WRS’s Tony Ganzer spoke with Enrica Detragiache, the IMF’s mission chief for Switzerland, who praised the currency market move by the Swiss, but she tempered that praise with a caution:
SNB to stay the 1.20 course at any cost
Tuesday, 7 February, 2012
Swiss National Bank interim head Thomas Jordan spoke at a luncheon of the Swiss American Chamber of Commerce in Geneva this afternoon, and he painted a fairly pessimistic view of the world economy with a forecast for a slowdown in Switzerland as well. It was the first major policy speech we’d heard from the bank since the resignation of Philipp Hildebrand last month, and he made it clear that SNB policy has not changed—including its intention to guard the 1.20 franc-to-euro floor at any cost. WRS’s Alex Helmick speaks with our reporter Jordan Davis who was there:
Tuesday, 7 February, 2012
Swiss National Bank interim head Thomas Jordan spoke at a luncheon of the Swiss American Chamber of Commerce in Geneva this afternoon, and he painted a fairly pessimistic view of the world economy with a forecast for a slowdown in Switzerland as well. It was the first major policy speech we’d heard from the bank since the resignation of Philipp Hildebrand last month, and he made it clear that SNB policy has not changed—including its intention to guard the 1.20 franc-to-euro floor at any cost. WRS’s Alex Helmick speaks with our reporter Jordan Davis who was there:
'A shame that Mr. Hildebrand resigned'
Tuesday, 10 January, 2012
Swiss National Bank head Philipp Hildebrand resigned on Tuesday after controversial currency trades by his wife. WRS’s Dave Goodman talks to Peter Kunz, professor of business law at the University of Bern, who says he thinks it’s a shame Hildebrand resigned:
Tuesday, 10 January, 2012
Swiss National Bank head Philipp Hildebrand resigned on Tuesday after controversial currency trades by his wife. WRS’s Dave Goodman talks to Peter Kunz, professor of business law at the University of Bern, who says he thinks it’s a shame Hildebrand resigned:
