News list for "Swiss National Bank"
Swiss National Bank President: Constructive talks with the United States on foreign exchange.
SNB President: Our mission is to achieve price stability in Switzerland, and we must ensure that goal, so we use interest rate and exchange rate instruments; we have expressed our readiness to intervene in the foreign exchange market if necessary.
Martin Schlegel, SNB governor, said on Friday: "Cryptocurrencies' market liquidity in times of crisis is called into question, and their high volatility is also a major risk for long-term value preservation. In short, it can be said that cryptocurrencies do not currently meet our high requirements for a reserve currency." He was responding to a proposal by the Bitcoin Initiative, an advocacy group, to increase its bitcoin holdings. The group's research said that if 1% of its investment was alloc...
Swiss National Bank Governor: Cryptocurrencies have very high volatility, and market liquidity in a crisis situation is questionable.
"Cryptocurrencies are essentially software," Martin Schlegel, SNB governor, told local media in an interview, according to Reuters. "We all know that software often has bugs and other weaknesses," but Luzius Meisser, a board member at Bitcoin Suisse, said that as the world moves towards a multipolar order, the dollar and the euro are weakening, and it makes more sense to hold bitcoin because bitcoin is a currency that cannot be inflated by deficit spending.
On March 22nd, according to ledgerinsights, the Swiss National Bank (SNB) has pioneered its pilot wholesale central bank digital currency (wCBDC) for the settlement of tokenized securities transactions on the SIX Digital Exchange (SDX). The Swiss National Bank recently released its annual report, which outlines other related activities, including exploring what is sometimes referred to as a synthetic CBDC - a private tokenized currency backed by central bank funds. The Swiss National Bank descri...
The Swiss National Bank cut the base rate by 25 basis points to 0.25%, the fifth consecutive rate cut, in line with market expectations.
According to local media reports, Swiss National Bank (SNB) Governor Martin Schlegel rejected the idea of Bitcoin as a SNB reserve, citing a lack of stability, liquidity and security. In an interview with Tamedia Group, Schlegel listed three main concerns surrounding cryptocurrencies. The first is the volatility of cryptocurrencies, which he believes makes them unsuitable for long-term preservation of value.
According to a report by Jin Ten, Swiss National Bank Governor Schlegel said that he does not see the need to launch a retail central bank digital currency.
Swiss National Bank Governor Schlegel: If monetary policy needs to be further relaxed, interest rate cuts remain the main tool.
SNB President Schlegel: The SNB remains willing to intervene in the foreign exchange market if necessary.
The SNB will announce its interest rate decision in ten minutes.
Swiss National Bank Governor Jordan will speak in ten minutes.
Swiss National Bank Governor: We think it might make sense to introduce a digital franc.
Thomas Jordan, chairperson of the Swiss National Bank (SNB), expressed skepticism about the prospect of the SNB buying bitcoin at the central bank's annual shareholder meeting on Friday. Jordan pointed out that adding Bitcoin to the Swiss National Bank's reserve assets, which include gold, foreign currencies, bonds, and stocks, could have potential negative impacts, such as increased carbon emissions. He then highlighted the energy consumption associated with bitcoin mining and trading.
