The Latest Central Banks Statements: Speeches, Interviews, Conferences, and Testimony.
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Barr, Commencement Remarks
May 10, 2024 | 10:30 amSpeech At the American University School of Public Affairs Graduation Ceremony, Washington, D.C.
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Bowman, Financial Stability Risks: Resiliency and the Role of Regulators
May 10, 2024 | 06:00 amSpeech At the Texas Bankers Association 2024 Annual Meeting, Arlington, Texas
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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
May 10, 2024 | 06:00 am -
Meeting of 10-11 April 2024
May 10, 2024 | 04:30 am -
Piero Cipollone: Digital euro: Stocktake and next steps
May 10, 2024 | 00:00 am -
Piero Cipollone: Tokenisation of financial instruments and central bank money settlement
May 9, 2024 | 05:15 am -
Cook, Current Assessment of Financial Stability
May 8, 2024 | 10:30 amSpeech At the Brookings Institution, Washington, D.C.
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ECB appoints Alain Busac as Director General Information Systems
May 7, 2024 | 08:30 am -
Monsters in the deep? − speech by Jonathan Hall
May 7, 2024 | 05:30 amGiven at University of Exeter Business School
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Philip R. Lane: Interview with El Confidencial
May 5, 2024 | 22:00 pm -
Cook, "Oh, the Places You’ll Go and the Things You’ll Do"
May 4, 2024 | 06:20 amSpeech At the 2024 Commencement, Georgia College and State University College of Business and Technology and College of Arts and Sciences, at separate ceremonies, Milledgeville, Georgia
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Bowman, Brief Remarks on the Economy and Monetary Policy
May 3, 2024 | 06:45 amSpeech At the Massachusetts Bankers Association Annual Convention, Key Biscayne, Florida
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Philip R. Lane: The analytics of the monetary policy tightening cycle
May 2, 2024 | 13:15 pm -
Regulatory Impact Statement: Proposed change to Regulation 10(2) of the Building (Accreditation of Building Consent Authorities) Regulations 2006
Apr 30, 2024 | 05:00 amLegislation: Building Act 2004Ministerial portfolio: Building and ConstructionDocument on Ministry of Business, Innovation and Employment website at April 2024: Regulatory Impact Statement: Proposed change to Regulation 10(2) of the Building (Accreditation of Building Consent Authorities) Regulations 2006 (links to PDF)Assessment: RIS adequacy assessed by authorin
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Stage 2 Cost Recovery Impact Statement: Building Consent Authority Accreditation Scheme
Apr 30, 2024 | 05:00 amLegislation: Building Act 2004Ministerial portfolio: Building and ConstructionDocument on Ministry of Business, Innovation and Employment website at April 2024: Stage 2 Cost Recovery Impact Statement: Building Consent Authority Accreditation Scheme (links to PDF)Assessment: RIS adequacy assessed by authoring agencyLink to associated Regulatory Impact Statement on The Treasury Website at April 2024:
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Luis de Guindos: Monetary policy and financial stability in the euro area
Apr 29, 2024 | 12:20 pm -
Regulatory Impact Statement: Detailed policy for a Digital Identity Trust Framework
Apr 29, 2024 | 05:00 amLegislation: Digital Identity Services Trust Framework Act 2023Ministerial portfolio: Digitising GovernmentDocument on Department of Internal Affairs website at April 2024: Regulatory Impact Statement: Detailed policy for a Digital Identity Trust Framework (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: Additional policy decisions for the Digital Identity Services Trust Framework Bill
Apr 29, 2024 | 05:00 amLegislation: Digital Identity Services Trust Framework Act 2023Ministerial portfolio: Digitising GovernmentDocument on Department of Internal Affairs website at April 2024: Regulatory Impact Statement: Additional policy decisions for the Digital Identity Services Trust Framework Bill (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: Progressing Digital Identity: Establishing a Trust Framework
Apr 29, 2024 | 05:00 amLegislation: Digital Identity Services Trust Framework Act 2023Ministerial portfolio: Digitising GovernmentDocument on Department of Internal Affairs website at April 2024: Regulatory Impact Statement: Progressing Digital Identity: Establishing a Trust Framework (links to PDF)Assessment: RIS adequacy assessed by authoring agency and the Treasury.
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Regulatory Impact Statement: Proposal to amend the Building (Dam Safety) Regulations 2022
Apr 29, 2024 | 05:00 amLegislation: Building Act 2004Ministerial portfolio: Building and ConstructionDocument on Ministry of Business, Innovation and Employment website at April 2024: Regulatory Impact Statement: Proposal to amend the Building (Dam Safety) Regulations 2022 (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Regulatory Impact Statement: Digital Identity Services Trust Framework Regulations
Apr 26, 2024 | 05:00 amLegislation: Digital Identity Services Trust Framework Act 2023Ministerial portfolio: Digitising GovernmentDocument on Department of Internal Affairs website at April 2024: Regulatory Impact Statement: Digital Identity Services Trust Framework Regulations (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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ECB Consumer Expectations Survey results – March 2024
Apr 26, 2024 | 01:00 am -
Climate change, the macroeconomy and monetary policy - slides by James Talbot
Apr 25, 2024 | 08:30 amAnnual Dow Lecture given at the National Institute of Economic and Social Research
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What’s next? Bulk annuity insurers – Regulatory developments − speech by Lisa Leaman
Apr 25, 2024 | 01:30 amGiven at Westminster and City’s 21st Annual Conference on Bulk Annuities
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Isabel Schnabel: The state contingency of monetary policy transmission
Apr 25, 2024 | 00:00 am -
Piero Cipollone: Innovation, integration and independence: taking the Single Euro Payments Area to the next level
Apr 24, 2024 | 00:35 am -
Private equity financing − speech by Rebecca Jackson
Apr 23, 2024 | 07:30 amGiven at UK Finance
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G7 Cyber Expert Group conducts cross-border coordination exercise in the financial sector
Apr 23, 2024 | 06:00 am -
Regulatory Impact Statement: ECE Regulations – Changes to requirements for person responsible
Apr 23, 2024 | 05:00 amLegislation: Education and Training Act 2020Ministerial portfolio: Education (Partnership Schools)Document on Ministry of Education website at April 2024: Regulatory Impact Statement: ECE Regulations – Changes to requirements for person responsible (links to PDF)Assessment: RIS adequacy assessed by authoring agency.
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Strategy and stance – remarks by Huw Pill
Apr 23, 2024 | 04:15 amGiven at the London campus of the University of Chicago Booth School of Business
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Luis de Guindos: Interview with Le Monde
Apr 22, 2024 | 22:00 pm -
Christine Lagarde: Unlocking the power of ideas
Apr 22, 2024 | 08:30 am -
Not-so-private questions − speech by Nathanaël Benjamin
Apr 22, 2024 | 02:05 amGiven at Bloomberg
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Outlier or laggard: divergence and convergence in the UK’s recent inflation performance - speech by Dave Ramsden
Apr 19, 2024 | 07:15 amGiven at Peterson Institute of International Economics, Washington DC
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Christine Lagarde: IMFC Statement
Apr 19, 2024 | 06:00 am -
Regulatory Impact Statement: Residential Tenancies Act 1986 amendments to introduce pet bonds and address other pet related matters
Apr 19, 2024 | 05:00 amLegislation: Residential Tenancies Act 1986Ministerial portfolio: HousingDocument on Ministry of Housing and Urban Development website at April 2024: Regulatory Impact Statement: Residential Tenancies Act 1986 amendments to introduce pet bonds and address other pet related matters (links to PDF)Assessment: RIS adequacy assessed by authoring
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Bowman, Opening Remarks
Apr 18, 2024 | 06:05 amSpeech At the 2024 New York Fed Regional and Community Banking Conference, New York, New York (via prerecorded video)
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Jefferson, Economic Uncertainty and the Evolution of Monetary Policymaking
Apr 16, 2024 | 06:00 amSpeech At the International Research Forum on Monetary Policy, Washington, D.C.
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Stage 2 Interim Cost Recovery Impact Statement: Fire and Emergency Part 3 levy rates 2026-2029
Apr 16, 2024 | 05:00 amLegislation: Fire and Emergency New Zealand Act 2017Ministerial portfolio: Internal AffairsDocument on Fire and Emergency New Zealand's website at April 2024: Stage 2 Interim Cost Recovery Impact Statement: Fire and Emergency Part 3 levy rates 2026-2029Assessment: RIS adequacy assessed by authoring agency.
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Modernising the trains and rails of UK payments − speech by Sarah Breeden
Apr 15, 2024 | 04:15 amGiven at the Innovate Finance Global Summit 2024
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Bowman, Risks and Uncertainty in Monetary Policy: Current and Past Considerations
Apr 5, 2024 | 09:30 amSpeech At “Frameworks for Monetary Policy, Regulation, and Bank Capital” Spring 2024 Meeting of the Shadow Open Market Committee, hosted by the Manhattan Institute, New York, New York
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Kugler, Enriching Data and Analysis in Economics with Real Life Experiences
Apr 4, 2024 | 16:30 pmSpeech At Women in Economics Symposium, Federal Reserve Bank of St. Louis, St. Louis, Missouri
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Kugler, The Outlook for the U.S. Economy and Monetary Policy
Apr 3, 2024 | 13:30 pmSpeech At the Weidenbaum Center on the Economy, Government, and Public Policy, Washington University in St. Louis, St. Louis, Missouri
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Powell, Opening Remarks
Apr 3, 2024 | 09:10 amSpeech At the Stanford Business, Government, and Society Forum, Stanford Graduate School of Business, Stanford, California
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Bowman, Bank Liquidity, Regulation, and the Fed's Role as Lender of Last Resort
Apr 3, 2024 | 06:30 amSpeech At The Roundtable on the Lender of Last Resort: The 2023 Banking Crisis and COVID, sponsored by the Committee on Capital Markets Regulation, Washington, D.C.
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Bowman, Bank Mergers and Acquisitions, and De Novo Bank Formation: Implications for the Future of the Banking System
Apr 2, 2024 | 07:10 amSpeech At A Workshop on the Future of Banking, hosted by the Federal Reserve Bank of Kansas City, Kansas City, Missouri
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Cook, Hope, Promise, and Mentors
Apr 1, 2024 | 15:50 pmSpeech At the Samuel DuBois Cook Center Career Achievement Awards Ceremony, the University Club, Washington, D.C.
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Waller, There’s Still No Rush
Mar 27, 2024 | 15:00 pmSpeech At the Economic Club of New York, New York, New York
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Market resilience, non-bank financial institutions and the central bank toolkit – practical next steps− speech by Nick Butt
Mar 12, 2024 | 07:05 amGiven at ISDA virtual conference on Procyclicality and Margin Practices
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The proposed UK regime for critical third parties – speech by Gareth Truran
Mar 8, 2024 | 02:00 amGiven at Tech UK Summit on Operational Resilience for Critical Third Parties on 6 March 2024
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A weathervane for a changing world: refreshing our data and analytics strategy − speech by James Benford
Mar 7, 2024 | 02:00 amGiven at Big Data and AI World, part of Tech Show London, at the ExCeL centre, Royal Victoria Dock, London
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Monetary Policy Strategy − remarks by Huw Pill
Mar 1, 2024 | 06:00 amGiven at Cardiff University Business School
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Bond trading, innovation and evolution: a Bank of England Perspective − speech by Dave Ramsden
Feb 27, 2024 | 05:40 amGiven at Glaziers Hall, AFME Bond Trading, Innovation and Evolution Forum
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Money’s too tight (to mention) – speech by Swati Dhingra
Feb 21, 2024 | 06:00 amGiven at Market News International Connect event
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Worlds apart? UK inflation and monetary policy in an international context - speech by Megan Greene
Feb 15, 2024 | 05:00 amGiven at Fitch HQ, London
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Loughborough lecture: Banking today - speech by Andrew Bailey
Feb 12, 2024 | 10:00 amGiven at Loughborough Business School, Loughborough University
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Mind the gap(s): Inflation data and prospects - speech by Catherine L. Mann
Feb 8, 2024 | 07:00 amGiven at the Official Monetary and Financial Institutions Forum
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Engineering revisited - speech by Sarah Breeden
Feb 7, 2024 | 00:40 amGiven at the UK Women in Economics Annual Networking Event
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Non-bank risks, financial stability and the role of private credit – speech by Lee Foulger
Jan 29, 2024 | 03:20 amGiven at Deal Catalyst/AFME direct Lending and Middle Market Finance Conference
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The Real Time Gross Settlement service: an open platform to drive innovation - speech by Victoria Cleland
Jan 25, 2024 | 01:10 amGiven at the Payments Regulation and Innovation Summit
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Monetary policy as engineering? − speech by Sarah Breeden
Dec 19, 2023 | 05:00 amGiven at the Institute of International Finance’s Talking Policy Series
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Signal versus noise - speech by Ben Broadbent
Dec 18, 2023 | 02:30 amGiven at the London Business School
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The weekend starts here − speech by Dave Ramsden
Dec 15, 2023 | 02:00 amGiven at Deloitte, London
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Are we there yet? A journey into monetary policy and medium-term factors − speech by Megan Greene
Nov 30, 2023 | 08:00 amGiven at Leeds University Business School
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Opening remarks at the 50th anniversary of the London Foreign Exchange Joint Standing Committee (FXJSC) - Andrew Bailey
Nov 29, 2023 | 07:05 amGiven at FXJSC 50th Anniversary event held at the Bank of England, London
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UK inflation since the pandemic: How did we get here and where are we going? − speech by Jonathan Haskel
Nov 28, 2023 | 05:00 amGiven at the University of Warwick
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The modern gatekeeper − speech by Nathanaël Benjamin
Nov 23, 2023 | 08:12 amGiven at TheCityUK
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A measure of wheat for a penny: food price inflation in historical perspective - speech by Andrew Bailey
Nov 20, 2023 | 10:45 amGiven at the Henry Plumb Memorial Lecture
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Back to the future − speech by Dave Ramsden
Nov 17, 2023 | 04:59 amGiven at the Society of Professional Economists Annual Conference, hosted by Bloomberg
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2023-11-14 - Thomas Jordan: Policy-making under uncertainty: The importance of maintaining a medium-term orientation
Dec 31, 1969 | 16:00 pm -
2023-11-18 - Thomas Jordan: Independence in research and monetary policy - a critical success factor for Switzerland
Dec 31, 1969 | 16:00 pm -
2023-12-14 - Thomas Jordan / Martin Schlegel / Thomas Moser: Introductory remarks, news conference
Dec 31, 1969 | 16:00 pm -
2024-03-21 - Thomas Jordan / Martin Schlegel / Antoine Martin: Introductory remarks, news conference
Dec 31, 1969 | 16:00 pm -
2024-04-08 - Thomas Jordan: Towards the future monetary system
Dec 31, 1969 | 16:00 pmCentral bank money and commercial bank money complement each other in the current monetary system. Central bank money comprises sight deposits of banks held at the central bank and banknotes, whereas commercial bank money comprises client deposits at banks. Payments between banks are settled in central bank money, thereby anchoring the value of commercial bank money. It is essential for a central bank to maintain this anchor role of central bank money in the monetary system, irrespective of future technological innovations. Distributed ledger technology and the tokenisation of assets promise to improve financial market infrastructures. For the SNB, this raises the question: How can transactions with tokenised assets be settled in central bank money? As part of a pilot known as Project Helvetia III, the SNB is issuing tokenised Swiss franc central bank money to financial institutions (wholesale central bank digital currency, or wholesale CBDC). The pilot is unique in making wholesale CBDC available for settling commercial transactions on the same third-party platform where the tokenised assets are held. The pilot transactions conducted so far have been successful, but important questions remain. Technological change also affects retail payments by individuals and businesses. The SNB has upgraded its payment system, so that retail payments can now be settled between bank accounts within seconds and around the clock. With the ongoing improvement of the payment system, the SNB currently sees no need in Switzerland for digital central bank money for the general public.
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2024-04-09 - Martin Schlegel: Interest rates and foreign exchange interventions: Achieving price stability in challenging times
Dec 31, 1969 | 16:00 pmFor decades, the exchange rate has played a key role for the Swiss economy and for the Swiss National Bank's monetary policy. However, it was only with the global financial crisis in 2008/2009 that the SNB started to intervene in the foreign exchange market on a large scale. Foreign exchange interventions were necessary to achieve the SNB's mandate of price stability. To maintain price stability, the SNB influences monetary conditions - primarily by setting the SNB policy rate as well as by intervening in the foreign exchange market if necessary. The SNB has used foreign exchange interventions both in phases of low and high inflation. It purchased foreign currency between 2009 and 2021 to counteract deflation risk when the policy rate was close to its effective lower bound. Without these purchases, inflation would have been even lower. When inflation surged after the coronavirus pandemic, the SNB sold foreign currency to tighten monetary policy. Foreign currency sales complemented policy rate hikes and dampened imported inflation in particular. This policy mix succeeded in bringing inflation back into the range of price stability. There are, however, side effects to foreign exchange interventions. The foreign currency purchases resulted in a significant expansion of the SNB's balance sheet, which in turn led to an increase in the volatility of its annual results. The SNB therefore needs to hold sufficient capital to bear potential losses.
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2024-04-18 - Antoine Martin / Thomas Moser: The implementation and transmission of the SNB's monetary policy during the recent tightening cycle
Dec 31, 1969 | 16:00 pmSince peaking at 3.5% in August 2022, inflation in Switzerland has fallen sharply and stood at 1.0% in March 2024. This speech discusses how the implementation and transmission of the Swiss National Bank's monetary policy contributed to this substantial decline in inflation. By implementing its policy rate effectively in the secured short-term Swiss franc money market and by ensuring broad transmission to all relevant financial market interest rates and Swiss franc exchange rates, the SNB was able to rapidly dampen inflation in Switzerland. As a complement to its interest rate policy, the SNB sold foreign exchange to counter inflationary pressures from abroad. While interest rate policy is the SNB's main lever for influencing monetary conditions, in a small open economy such as Switzerland, FX intervention has proved to be an effective additional instrument for creating monetary conditions that ensure price stability.
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2024-04-26 - Barbara Janom Steiner: A robust institutional framework as the foundation for success
Dec 31, 1969 | 16:00 pmThe SNB's mandate is to ensure price stability while taking due account of economic developments. Price stability is central to the functioning of the economy and to overall prosperity. It is therefore crucial for Switzerland that the SNB fulfil its statutory mandate. The SNB must also be accountable in this. The basis for the SNB's successful fulfilment of its mandate is the institutional framework within which it operates. This framework is comprised of its independence and its narrowly defined statutory mandate. The legislator granted the SNB independence from political influence and special interests so that it can also make difficult and unpopular decisions if necessary. Expanding the mandate to include objectives other than price stability would waste resources and inevitably lead to conflicts of interest. Recently, however, there has been a growing number of calls for the SNB to change. These demands for change come from a wide variety of political and ideological directions, but they almost always take aim at the tried-and-trusted pillars of our institution. The SNB does not shy away from criticism. On the contrary, it engages with it. But recent critics must ask themselves whether they are trying to change something that doesn't need to be changed. The SNB functions very well, and it fulfils its mandate excellently, even in times of crisis. Having said this, and despite its strong performance in recent years, the SNB is not standing still, but rather is continuously analysing its structures and processes and adapting these where necessary. For example, we recently increased the number of deputy members of the Governing Board. Demands that restrict a central bank's independence or weaken its institutional framework by diluting its mandate or making ill-considered changes to its organisational structure jeopardise price stability and, ultimately, social cohesion in our country. The SNB is very well positioned to fulfil its mandate successfully in the future. To ensure that this remains the case, it is important to stand up for the SNB's proven and stable institutional framework.
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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