Swiss National Bank
CIP violations shape dynamic cross-currency basis curve
A new SNB working paper investigates how U.S. dollar funding demand and dealer balance-sheet constraints induce persistent covered interest parity (CIP) deviations.
Focus
Information frictions cause variable monetary policy lags
A new SNB working paper by Diego M. Hager and Samuel Reynard presents a microfounded information mechanism.
SNB develops economy-wide capacity utilization for Swiss data
A new Swiss National Bank working paper introduces a methodology to estimate an economy-wide capacity utilisation rate for Switzerland.
Latest
Swiss current account surplus falls to CHF 16 billion in Q1
Switzerland's current account surplus decreased to CHF 16 billion in the first quarter of 2026, down CHF 11 billion from the previous year.
Fed speech data reveals communication complexity paradox
A new working paper, analyzing over 10,000 Federal Reserve speeches from 1914 to 2024, reveals key trends in central bank communication.
Factor for sight deposits reduced to 13.5
The Swiss National Bank will reduce the factor for the limit on interest-bearing sight deposits from 15 to 13.5, effective August 1, 2026.
More Topics
SNB keeps policy rate at 0 percent
The Swiss National Bank (SNB) has kept its policy rate unchanged at 0 percent.
Dollar's vehicle role amplifies volatility, study finds
A Swiss National Bank working paper finds that the US dollar's role as a vehicle currency amplifies its own volatility.
Swiss household net wealth grows to CHF 5.1 trillion
The Swiss National Bank reports that private household net wealth increased by CHF 226 billion to CHF 5132 billion in 2025.
Repos and SNB Bills anchor SNB monetary policy
The Swiss National Bank implements monetary policy by steering secured short-term interest rates.
SNB reports 0.5 billion franc loss in Q1 2026
The Swiss National Bank reported a loss of 0.5 billion francs for the first quarter of 2026.
Mario Draghi to hold 10th Karl Brunner Lecture
Mario Draghi will deliver the 10th Karl Brunner Distinguished Lecture for the Swiss National Bank (SNB).