(Bloomberg) For Swiss National Bank President Thomas Jordan, the franc’s precipitous drop to a 20-month low against the euro has come at a helpful moment after an open season for attacks on his policies. Just over two weeks ago, his institution endured one of the most stinging critiques of its monetary regime in recent years, as a trio of prominent economists accused officials of not trying hard enough to stoke inflation. That followed a salvo three months earlier from the opposite perspective as the U.S. Treasury under Donald Trump’s former administration branded Switzerland a manipulator, damning its framework for capping currency gains with interventions. Now, after portfolio shifts by global investors positioning for higher inflation sent the franc down 3% within a fortnight, crossing the 1.10 per euro mark, SNB officials suddenly have breathing space on both fronts. With the Swiss economy suffering due to the pandemic, the weaker currency can give growth and inflation a welc
SNB Breathes Again as Franc Drop Rebuts Criticism on Two Fronts
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(Bloomberg) The Swiss National Bank should raise its inflation target and consider using its exchange rate rather than its benchmark interest rate as its main tool, according to a group of economists. While the proposal on price growth would bring the SNB more in line with international counterparts, the suggestion on how to manage the franc would be more controversial. Switzerland is already designated as a currency manipulator by the U.S. Stefan Gerlach, former deputy governor of the Irish central bank now at EFG International AG, Yvan Lengwiler of the University of Basel and Charles Wyplosz, honorary professor at Geneva’s Graduate Institute addressed the issue of persistently weak price growth in Switzerland, despite negative interest rates since 2015. “A revision of the strategy is needed now,” they wrote in a paper published Wednesday. “We recommend that the SNB should commit to a more precise and slightly higher inflation goal, and it should clarify the role of the exch
Covid review: not all our predictions were wrong Published on Share
One year into the pandemic, we still have so many questions. Here in Geneva, we can put those questions to world leaders in public health.
When can we get vaccinated? When can we meet friends again? When, oh when, will this virus give up?
It’s been interesting, reporting on Covid-19 over the last 12 months, to re-assess some of their answers one year on.
In this week’s episode of our podcast, Inside Geneva, I take a look back at interviews conducted almost exactly a year ago with the WHO’s Margaret Harris, and with Vinh Kim Nguyen, an emergency doctor with MSF who is also co-director of Geneva Graduate Institute’s Global Health Centre.
Covid review: not all our predictions were wrong
One year into the pandemic, we still have so many questions. Here in Geneva, we can put those questions to world leaders in public health.
This content was published on February 9, 2021 - 15:00
February 9, 2021 - 15:00
Imogen Foulkes
When can we get vaccinated? When can we meet friends again? When, oh when, will this virus give up?
It’s been interesting, reporting on Covid-19 over the last 12 months, to re-assess some of their answers one year on.
In this week’s episode of our podcast, Inside Geneva, I take a look back at interviews conducted almost exactly a year ago with the WHO’s Margaret Harris, and with Vinh Kim Nguyen, an emergency doctor with MSF who is also co-director of Geneva Graduate Institute’s Global Health Centre.
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