The Latest Central Banks Statements: Speeches, Interviews, Conferences, and Testimony.
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Luis de Guindos: Interview with the Telegraaf
Dec 20, 2024 | 06:00 am -
ECB appoints Karin Turner-Hrdlicka as Director General On-site and Internal Model Inspections
Dec 19, 2024 | 04:15 am -
Digital payments continue to rise, albeit at a slower pace; cash remains a key payment method
Dec 19, 2024 | 03:00 am -
ECB publishes new wage tracker indicators
Dec 18, 2024 | 06:00 am -
ECB and EIOPA propose European approach to reduce economic impact of natural catastrophes
Dec 18, 2024 | 02:00 am -
Philip R. Lane: The euro area outlook and monetary policy
Dec 18, 2024 | 01:00 am -
Isabel Schnabel: Navigating towards neutral
Dec 16, 2024 | 08:30 am -
Payment cycles: An update on the Future Roadmap for the RTGS service - speech by Victoria Cleland
Dec 16, 2024 | 06:00 amGiven at FinTech Connect on 5 December 2024
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Christine Lagarde: Monetary policy in the euro area
Dec 16, 2024 | 00:15 am -
Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
Dec 13, 2024 | 06:00 am -
Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A)
Dec 12, 2024 | 06:00 am -
Monetary policy decisions
Dec 12, 2024 | 05:15 am -
Getting the balance right: ensuring the Bank’s balance sheet can support financial stability − speech by Dave Ramsden
Dec 9, 2024 | 05:00 amGiven at the Official Monetary and Financial Institutions Forum, London
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Christine Lagarde: How to turn European savings into investment, innovation and growth
Dec 4, 2024 | 10:00 am -
Christine Lagarde: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament
Dec 4, 2024 | 05:30 am -
ECB announces new timeline for harmonisation of banks’ statistical reporting
Dec 4, 2024 | 03:05 am -
Piero Cipollone: The case for a digital euro in the European payments landscape
Dec 4, 2024 | 01:00 am -
Kugler, A Year in Review: A Tale of Two Supply Shocks
Dec 3, 2024 | 09:35 amSpeech At the Detroit Economic Club, Detroit, Michigan
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Once more unto the breach - speech by Philippe Lintern
Dec 3, 2024 | 01:55 amGiven at FX Markets Europe
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Waller, Cut or Skip?
Dec 2, 2024 | 12:15 pmSpeech At "Building a Better Fed Framework," American Institute for Economic Research Monetary Conference, Washington, D.C.
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The SWES: using system-wide scenario analysis to spot systemic risks − speech by Lee Foulger
Dec 2, 2024 | 09:00 amGiven at Bloomberg
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Inflation dynamics - slides by Swati Dhingra
Nov 25, 2024 | 04:00 amBank of England Watchers Conference
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Managing the present, shaping the future - speech by Clare Lombardelli
Nov 25, 2024 | 01:00 amGiven at the Bank of England Watchers Conference, organised by King’s Business School and the Money, Macro and Finance Society
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Bowman, Artificial Intelligence in the Financial System
Nov 22, 2024 | 15:15 pmSpeech At the 27th Annual Symposium on Building the Financial System of the 21st Century: An Agenda for Japan and the United States, Washington, D.C.
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Beyond Faster Horses: Wholesale Financial Markets in the Digital Age
Nov 21, 2024 | 06:05 amGiven at The Tokenisation Summit 2024
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Bowman, Approaching Policymaking Pragmatically
Nov 20, 2024 | 09:15 amSpeech At the Forum Club of the Palm Beaches, West Palm Beach, Florida
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Back to the Future 2: Keeping inflation close to the 2% target − speech by Dave Ramsden
Nov 20, 2024 | 08:00 amGiven at Leeds University Business School
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Cook, Economic Outlook
Nov 20, 2024 | 08:00 amSpeech At the University of Virginia, Charlottesville, Virginia
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Powell, Economic Outlook
Nov 14, 2024 | 12:00 pmSpeech At Conversation with Federal Reserve Chair Jerome Powell, Dallas, Texas
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Growth − speech by Andrew Bailey
Nov 14, 2024 | 10:00 amGiven at the Mansion House Financial and Professional Services Dinner
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The Great Moderation 20 years on – and beyond – speech by Catherine L. Mann
Nov 14, 2024 | 05:00 amGiven at the Annual Conference of the Society of Professional Economists in London
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Kugler, Central Bank Independence and the Conduct of Monetary Policy
Nov 14, 2024 | 04:00 amSpeech At the Albert Hirschman Lecture, 2024 Annual Meeting of the Latin American and Caribbean Economic Association and the Latin American and Caribbean Chapter of the Econometric Society, Montevideo, Uruguay
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Waller, What Roles Should the Private Sector and the Federal Reserve Play in Payments?
Nov 12, 2024 | 07:00 amSpeech At The Clearing House Annual Conference 2024, New York, New York
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Engaging with the machine: AI and financial stability − speech by Sarah Breeden
Oct 31, 2024 | 03:00 amGiven at HKMA-BIS Joint Conference on Opportunities and Challenges of Emerging Technologies in the Financial Ecosystem
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The future of money and payments - speech by Andrew Bailey
Oct 26, 2024 | 08:20 amGiven at Group of Thirty’s 39th Annual International Banking Seminar, Washington
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Michael D. Gill Memorial Society Lecture − Andrew Bailey
Oct 24, 2024 | 12:45 pmGiven at CFTC, Washington
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Bowman, Opening Remarks
Oct 23, 2024 | 06:00 amSpeech At the Eighth Annual Fintech Conference, Philadelphia, Pennsylvania
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Today’s challenges in Financial Stability: the new and the not so new - speech by Andrew Bailey
Oct 22, 2024 | 06:25 amGiven at Bloomberg Regulatory Forum, New York
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Waller, Centralized and Decentralized Finance: Substitutes or Complements?
Oct 18, 2024 | 09:10 amSpeech At the Vienna Macroeconomics Workshop, Institute of Advanced Studies, Vienna, Austria
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Competing for growth − speech by Sam Woods
Oct 17, 2024 | 13:00 pmGiven at the Annual City Banquet, Mansion House
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Waller, Thoughts on the Economy and Policy Rules at the Federal Open Market Committee
Oct 14, 2024 | 12:00 pmSpeech At “A 50 Year Retrospective on the Shadow Open Market Committee and Its Role in Monetary Policy,” a conference sponsored by the Hoover Institution, Stanford University, Stanford, California
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Monetary Policy: Lessons from the pandemic - slides by Swati Dhingra
Oct 14, 2024 | 02:24 amGiven at the Reserve Bank of India’s 90th anniversary high-level conference
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Bowman, Challenges to the Community Banking Model
Oct 11, 2024 | 10:10 amSpeech At the 18th Annual Community Bankers Symposium, Community Banking: Navigating a Changing Landscape, Chicago, Illinois
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Cook, Entrepreneurs, Innovation, and Participation
Oct 10, 2024 | 06:15 amSpeech At the 2024 Women for Women Summit, Charleston, South Carolina
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Jefferson, The Fed's Discount Window: 1990 to the Present
Oct 9, 2024 | 09:30 amSpeech At the Charlotte Economics Club, Charlotte, North Carolina
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Cross-checking − speech by Huw Pill
Oct 4, 2024 | 00:55 amGiven at the Institute of Chartered Accountants for England and Wales annual conference ‘Building an Economy Fit for the Future’, London
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Enhancing our national asset: Maximising the value of data collections across the financial sector − speech by James Benford
Oct 3, 2024 | 01:00 amGiven at RegTech Summit London
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Innovation in Digital Assets in the Financial System and The Bank − by Sasha Mills
Oct 2, 2024 | 04:00 amGiven at Digital Assets Week
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Competing on a Global Stage − speech by Shoib Khan
Sep 26, 2024 | 01:30 amGiven at Bank of America Securities Annual Financials CEO Conference
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TRUSTED AI: Ethical, safe, and effective application of artificial intelligence at the Bank of England − speech by James Benford
Sep 25, 2024 | 05:15 amGiven at the Central Bank AI Conference
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Who’s buying? The outlook for consumption in a rate cutting cycle − speech by Megan Greene
Sep 25, 2024 | 01:00 amGiven at The North East Chambers of Commerce, Newcastle
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Regulatory Impact Statement: Biosecurity Act Amendment Bill
Sep 24, 2024 | 05:00 amLegislation: Biosecurity Act 1993Ministerial portfolio: BiosecurityDocument on Ministry for Primary Industries website at September 2024: Regulatory Impact Statement: Biosecurity Act Amendment BillAssessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: Holidays Act reform - Further Policy Decisions
Sep 24, 2024 | 05:00 amLegislation: Holidays Act 2003Ministerial portfolio: Workplace Relations and SafetyDocument on Ministry of Business, Innovation and Employment website at September 2024: Regulatory Impact Statement: Holidays Act reform - Further Policy Decisions (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Annex to Regulatory Impact Statement: Young serious offender declaration and military-style academies
Sep 24, 2024 | 05:00 amLegislation: Oranga Tamariki Act 1989Ministerial portfolio: ChildrenDocument on Oranga Tamariki-Ministry for Children website at September 2024: Annex to Regulatory Impact Statement: Young serious offender declaration and military-style academies (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Strong and Simple – completing the picture - speech by David Bailey
Sep 20, 2024 | 01:30 amGiven at the Building Societies Association
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Policy spillovers when external shocks persist and domestic activity diverges - speech by Catherine L. Mann
Sep 20, 2024 | 01:00 amGiven at the Central Bank Research Association, National Bank of Poland and Bank of Lithuania 5th biennial conference ‘Macroeconomic adjustments after large global shocks’ in Vilnius, Lithuania
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Supplementary Analysis Report: Funding arrangements for Parliament
Sep 19, 2024 | 05:00 amLegislation: Parliament ActMinisterial portfolio: Leader of the HouseDocument on Parliamentary Service website at September 2024: Supplementary Analysis Report: Funding arrangements for ParliamentAssessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: 2024 update to New Zealand Emissions Trading Scheme limits and price control settings for units
Sep 19, 2024 | 05:00 amLegislation: Climate Change Response Act 2002Ministerial portfolio: Climate ChangeDocument on Ministry for the Environment website at September 2024: Regulatory Impact Statement: 2024 update to New Zealand Emissions Trading Scheme limits and price control settings for units (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: Increasing annual vehicle license fees 2024
Sep 19, 2024 | 05:00 amLegislation: Land Transport Act 1998Ministerial portfolio: TransportDocument on Ministry of Transport website at September 2024: Regulatory Impact Statement: Increasing annual vehicle license fees 2024Assessment: RIS adequacy assessed by authoring agency.
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Stage 2 Cost Recovery Impact Statement: Immigration Fee and Levy Review
Sep 19, 2024 | 05:00 amLegislation: Immigration Act 2009Ministerial portfolio: ImmigrationDocument on Ministry of Business, Innovation and Employment website at September 2024: Stage 2 Cost Recovery Impact Statement: Immigration Fee and Levy Review (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: Disposals of trading stock at below market value
Sep 17, 2024 | 05:00 amLegislation: Income Tax Act 2007Ministerial portfolio: RevenueDocument on Inland Revenue website at September 2024: Regulatory Impact Statement: Disposals of trading stock at below market value (Links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: Proposals for regulations for natural hazard information in land information memoranda
Sep 17, 2024 | 05:00 amLegislation: Local Government Official Information and Meetings ActMinisterial portfolio: Local GovernmentDocument on Department of Internal Affairs website at September 2024: Regulatory Impact Statement: Proposals for regulations for natural hazard information in land information memoranda (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Interim Regulatory Impact Statement: Supporting shooting clubs and ranges
Sep 17, 2024 | 05:00 amLegislation: Arms Act 1983Ministerial portfolio: JusticeDocument on Ministry of Justice website at September 2024: Interim Regulatory Impact Statement: Supporting shooting clubs and ranges (Links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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A balanced approach to finishing Basel 3.1 in the UK − speech by Phil Evans
Sep 11, 2024 | 23:00 pmGiven at UK Finance
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Financial stability at your service − speech by Sarah Breeden
Sep 10, 2024 | 04:00 amBased on remarks given at Wharton-IMF Transatlantic Dialogue, Washington DC
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Reflecting on recent times – speech by Andrew Bailey
Aug 23, 2024 | 08:00 amGiven at The Federal Reserve Bank of Kansas 2024 Economic Symposium, Jackson Hole, Wyoming
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Let’s get ready to repo! - speech by Victoria Saporta
Jul 22, 2024 | 04:30 amGiven at Association for Financial Markets in Europe (AFME), London
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Late call − speech by Nathanaël Benjamin
Jul 18, 2024 | 01:05 amGiven at Linklaters, hosted by the International Swaps and Derivatives Association
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Empower executive role model − speech by Afua Kyei
Jul 10, 2024 | 09:00 amGiven at the Google UK Headquarters, 6 Pancras Square, London
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2024-04-26 - Thomas Jordan: Price stability thanks to forward-looking monetary policy
Dec 31, 1969 | 16:00 pmIn recent years, the Swiss National Bank has had to ensure price stability in very different situations. It has succeeded in doing so by focusing on its mandate and through its monetary policy strategy. The years before the coronavirus pandemic were characterised by low inflation. The outbreak of the pandemic triggered a serious downturn in the global economy, and the Swiss franc as a safe haven once more came under strong appreciation pressure. In this phase, the SNB fulfilled its mandate by using negative interest and extensive purchases of foreign exchange to counter the threat of deflation. After years when it had been exceptionally low, inflation suddenly returned with all its might across the world as the pandemic subsided. Supply that had been reduced by containment measures and disrupted supply chains met with demand heightened by catch-up effects. The war in Ukraine also saw energy prices shoot up, giving further impetus to inflation. The SNB tightened its monetary policy early by international comparison. Already in the second half of 2021, it deliberately allowed the Swiss franc to appreciate by being restrained in its purchases of foreign currency. After the first quarter of 2022, the SNB refrained from foreign currency purchases, and from the middle of the year tightened its monetary policy both by raising the SNB policy rate in several steps and by selling foreign currency. Thanks also to the early monetary policy tightening, inflation in Switzerland was at all times significantly lower than in many other countries, and has been back in the range consistent with price stability since mid-2023. Without its forward-looking monetary policy, the SNB would have had to raise its policy rate much more strongly at a later stage, with potentially negative consequences for the economy and the labour market. The successful fight against inflation also allowed the SNB to ease its monetary policy in March 2024, which at the same time supported economic activity. Although its approach has proven its worth in a wide variety of situations, the SNB will always critically examine its own assessments, and will endeavour to identify changes in conditions as early as possible and analyse their impact. It is thus well equipped to continue ensuring price stability in Switzerland in the future.
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2024-05-06 - Thomas Jordan: Project Helvetia III - The SNB's pilot for wholesale CBDC
Dec 31, 1969 | 16:00 pm -
2024-05-30 - Thomas Jordan: The natural rate of interest (r*) as a reference point for monetary policy - a practitioner's view
Dec 31, 1969 | 16:00 pmOver the past years, the natural rate of interest (r*) - defined as the real interest rate consistent with stable inflation in an economy operating at full capacity in the medium term - has become an important reference point for monetary policy. The difference between the real interest rate and r* gives a measure of a central bank's monetary policy stance. Monetary policy is restrictive if the real interest rate is above r* and it is expansionary if it is below r*. Therefore, evaluating where the real interest rate is relative to r* helps to structure discussions about monetary policy options. However, r* is unobserved and has to be estimated from the data. These estimates are subject to considerable uncertainty, which complicates their use in the monetary policy process. Nevertheless, neglecting r* estimates in practical monetary policy considerations would be a mistake. Given the uncertainty surrounding r* estimates, it is an important task of our economists to form a robust view on r*. They derive this view from a portfolio of different models and cross-check the results against a broader set of indicators to arrive at a measure of r* that is useful for monetary policymaking. This measure plays an important role in our monetary policy decisions. First, it is an important element in assessing monetary conditions. However, other factors - such as real exchange rates - also play an important part in this assessment at the SNB. Second, the deviation of the real interest rate from r* is essential for our inflation forecast and thus for gauging medium-term inflationary pressure. Uncertainty surrounding r* estimates can be narrowed down to some extent, but it cannot be eliminated. Our risk management approach to monetary policymaking acknowledges the uncertainty and prescribes that policy decisions be appropriate for a range of scenarios. Ultimately, our decisions are guided by our mandate of ensuring price stability.
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2024-06-20 - Thomas Jordan / Martin Schlegel / Antoine Martin: Introductory remarks, news conference
Dec 31, 1969 | 16:00 pm -
2024-09-26 - Thomas Jordan / Martin Schlegel / Antoine Martin: Introductory remarks, news conference
Dec 31, 1969 | 16:00 pm -
2024-10-03 - Martin Schlegel: Eighth Karl Brunner Distinguished Lecture - Introduction of Kristin J. Forbes
Dec 31, 1969 | 16:00 pm -
2024-10-30 - Martin Schlegel / Sébastien Kraenzlin: SNB to develop new banknote series
Dec 31, 1969 | 16:00 pm -
2024-11-21 - Petra Tschudin / Thomas Moser: The Swiss repo market at 25: A success story for the financial centre and the SNB
Dec 31, 1969 | 16:00 pmThis year we are celebrating the 25th anniversary of the Swiss franc repo market. Highly standardised and automated, the Swiss franc repo market is one of the most advanced and efficient repo markets in the world. Repo transactions are a key instrument for monetary policy implementation at the SNB. The dynamic activity in the interbank segment of the repo market provides a robust basis for calculating SARON (Swiss Average Rate Overnight). Furthermore, repo transactions enable the SNB to reach a large number of market participants who are active on the same trading platform as the SNB. Thanks to its liquidity, security and efficiency, repo transactions play an important role in the liquidity management of banks and other financial market participants. Technological progress could lead to further improvements in the settlement of repo transactions, as well as in intraday liquidity management and collateral mobility.
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2024-11-22 - Martin Schlegel: Maintaining price stability in a small open economy with a safe-haven currency
Dec 31, 1969 | 16:00 pmAs 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. The SNB's main tool is the SNB policy rate, which determines the monetary policy stance and is thus the focus of its communication. As an additional monetary policy measure, the SNB has also used foreign exchange interventions, both for countering the threat of deflation and for fighting inflation. A major side effect of the foreign currency purchases required in the years after the global financial crisis has been the expansion of the SNB's balance sheet, which has led to major fluctuations in its annual results. In light of the balance sheet risks, the SNB's equity capital is currently considerably too low. Building up the SNB's capital must thus take precedence over profit distributions. The Swiss economy has performed well by international comparison over the past couple of decades. The SNB has contributed to this performance by maintaining price stability despite significant deflationary and inflationary risks. Going forward, the SNB will continue to contribute to favourable economic conditions in Switzerland by ensuring price stability.
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2024-12-12 - Martin Schlegel / Antoine Martin / Petra Tschudin: Introductory remarks, news conference
Dec 31, 1969 | 16:00 pm -
Barr, Supervision and Regulation
Dec 30, 1899 | 07:00 amTestimony Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C.
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