The Swiss National Bank (SNB) reported on Monday a record annual profit of 80.7 billion Swiss francs for 2024, marking a recovery from its 3.2 billion Swiss franc loss in 2023.The latest figure surpasses the SNB's previous profit of 54 billion Swiss francs in 2017. The central bank, which manages...
Switzerland's Federal Government Expert Group on Business Cycles has marginally downgraded its 2025 economic growth forecast to 1.5%, down from 1.6%, citing delays in Europe's recovery and global economic uncertainty. Growth is expected to rise to 1.7% in 2026 as international conditions...
Swiss National Bank (SNB) Chairman Martin Schlegel reaffirmed Thursday that while the central bank does not favor negative interest rates, they remain effective and could be reintroduced if necessary."At the current juncture we cannot exclude negative interests rates in the future," Schlegel...
The American dollar strengthened against other safe-haven currencies on Thursday to reach its highest level since late July after Federal Reserve Chair Jerome Powell remarked that the central bank is in no rush to lower interest rates, noting that the current strength of the US economy provides...
The Swiss franc climbed to its highest value against the American dollar since February on Friday after data on manufacturing sector activity in the United States showed deteriorating conditions seemingly fueling concerns about an economic slowdown.The Swiss currency continued to strengthen...
The outgoing Chairman of the Swiss National Bank (SNB) Thomas Jordan said that the Swiss franc, recognized as a safe-haven currency, can be significantly influenced by political "uncertainties," both within Europe and globally, posing a possibility of intervention if needed.In an interview...
The Swiss franc rose to its highest level against the American currency since late March on Tuesday after the annual inflation rate in Switzerland stood unchanged at 1.4% in May, seemingly lowering prospects for a potential rate cut by the Swiss National Bank (SNB) this month.In March, the Swiss...
The Swiss franc continued to weaken on Wednesday, tumbling to its fresh low since mid-November last year against the American currency as market participants braced for this week's key data in the United States.The franc further depreciated as a result of the Swiss National Bank (SNB)'s decision...
The Swiss franc weakened against several currencies on Tuesday after a softer-than-expected inflation report in January. The consumer price index (CPI) came in lower than analysts predicted, seemingly paving the way for the Swiss National Bank to potentially ease its monetary policy in the...
The Swiss franc pushed stronger against the American currency on Friday, soaring to its new highest level last seen in January 2015.
The depreciation of the greenback was seemingly triggered by a downward revision to the United States' gross domestic product for the third quarter which might lead...
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