|Bid||5,450.00 x 0|
|Ask||5,510.00 x 0|
|Day's Range||5,430.00 - 5,510.00|
|52 Week Range||4,000.00 - 6,440.00|
|Beta (3Y Monthly)||1.21|
|PE Ratio (TTM)||0.02|
|Forward Dividend & Yield||15.00 (0.27%)|
|1y Target Est||N/A|
Switzerland’s central bank has announced a policy rate to replace one based on Libor as part of a global shift away from the scandal-hit benchmark. The central bank’s focus will turn from the three-month London Interbank Offered Rate to the Swiss average rate overnight, or Saron, which was jointly developed by the Swiss National Bank and the Swiss stock exchange. Saron differs from Libor in that it is calculated using completed transactions and trade quotes in the secured money market, according to the SNB.
The Swiss National Bank reported a first-quarter profit of 30.7 billion Swiss francs ($30.10 billion) on Thursday, highlighting the volatility its massive balance sheet creates for the central bank's earnings. Its made a profit on foreign currency positions of 29.3 billion, recorded a valuation gain of 0.9 billion on gold holdings and generated profit on Swiss franc positions of 0.6 billion, it said in a statement.
Swiss National Bank Chairman Thomas Jordan said increasing global economic risks such as Brexit and U.S.-Chinese trade tensions meant the central bank will stick to its ultra-loose monetary policy for the foreseeable future. Interest rates internationally are likely to remain very low, Jordan said on Thursday as the SNB retained its own expansive stance to guard against fallout from the "highly valued" Swiss franc.
A British departure from the European Union without a deal could hurt international trade, trigger turbulence on the currency markets and hit Switzerland, Swiss National Bank Chairman Thomas Jordan said on Wednesday. Global uncertainty has risen in recent months, Jordan told an event in Aarau, meaning the SNB had to stick to its current expansive monetary policy to block a rise in the safe-haven franc.
The Swiss National Bank kept its ultra-loose monetary policy in place on Thursday, citing the "fragile" exchange-rate situation and international tensions as reasons to maintain its expansive course into a fourth year. The tension surrounding Italy's fiscal policy also persists," SNB Chairman Thomas Jordan told a news conference. The SNB kept its target range for the three-month London interbank offered rate (LIBOR) at -1.25 to -0.25 percent, as unanimously forecast by 32 economists polled by Reuters.
The Swiss National Bank kept its ultra-loose monetary policy in place on Thursday, citing the "fragile" exchange rate situation as a reason to maintain its expansive course. The SNB kept its ...
The Swiss National Bank kept its ultra-loose monetary policy in place on Thursday, citing the "fragile" exchange rate situation and rising international trade tensions and protectionism. The SNB kept its target range for the three-month London Interbank Offered Rate (LIBOR) at -1.25 to -0.25 percent, as unanimously forecast by 36 economists polled by Reuters. The central bank also kept the interest rate it charges on sight deposits at -0.75 percent, adding it remained ready to intervene in the foreign currency markets to counter a rise in the Swiss franc.