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The Swiss National Bank (SNB) is expected to cut the key interest rate to 0.25% in March, marking a potential end to further reductions amid declining inflation. Economists predict a shift towards interest rate hikes by 2026, influenced by economic growth and rising inflation, which could lead to increased mortgage costs and marginal rent reductions for tenants.
The Swiss National Bank (SNB) has reduced the key interest rate by 50 basis points to 0.5%, signaling urgency amid economic uncertainties and low inflation. While some economists view this as a necessary step to curb the franc's appreciation, others believe its impact will be limited, raising concerns about the SNB's remaining monetary policy tools. The strong franc continues to negatively affect SMEs, with many calling for measures to prevent further appreciation against the euro.
The Swiss National Bank (SNB) cut key interest rates by 50 basis points to 0.5% amid economic slowdown and low inflation, signaling urgency to prevent further appreciation of the Swiss franc. Economists express concern over diminishing options for future rate cuts, with potential foreign exchange market interventions on the table. The decision reflects growing uncertainty in the economic outlook, particularly regarding U.S. and European policies, while SMEs voice worries about the strong franc's impact on their operations.
German lawyer Eckart Seith, a whistleblower in the cum-ex scandal, is on trial in Zurich for economic espionage and violations of the Banking Act. He is accused of obtaining and sharing internal documents from Bank J. Safra Sarasin with German investigators, amid tensions between Germany's tax evasion efforts and Swiss banking secrecy. Seith's case highlights the fallout from the controversial cum-ex transactions, which led to significant tax losses across Europe and were banned in both Germany and Switzerland.
The Swiss National Bank (SNB) is expected to announce an interest rate decision soon, with economists predicting a potential cut of 50 basis points due to a deteriorating economic outlook and low inflation. Current inflation stands at 0.7%, well below the target range, while economic growth remains below potential and unemployment is rising. Analysts argue that a significant cut is necessary as the SNB has already set expectations for a rate reduction through its communication strategy.
The latest rich list reveals the Safra family maintaining a stable fourth place in Switzerland with assets of CHF 22.5 billion, while the Hinduja family's wealth rose to CHF 10.5 billion amid legal troubles. Martin Ebner's assets increased to CHF 3.8 billion, bolstered by his stake in Temenos, despite a share price decline. The UBP founding family is valued at CHF 2.3 billion, with notable bank managers like Sergio Ermotti and Colm Kelleher estimated around CHF 175 million.
The latest rich list reveals the Safra family maintaining their position with assets of 22.5 billion francs, while the Hinduja family saw a rise to 10.5 billion francs amid legal troubles. Martin Ebner's wealth increased to 3.8 billion francs despite losses from Temenos, and the de Piciotto family is valued at 2.3 billion francs. Bank managers like Sergio Ermotti and Boris Collardi are estimated at around 175 million francs, with Ermotti benefiting from a substantial salary and share value at UBS.
The zero interest rate policy is nearing implementation, with inflation at 0.6 percent prompting expectations of three interest rate cuts, according to Thomas Gitzel, Chief Economist at VP Bank. Karsten Junius from Bank J. Safra Sarasin predicts a key interest rate of 0.25 percent by June 2025, with the possibility of reaching zero rates shortly thereafter. This scenario suggests a total of four cuts of 0.25 percentage points in the coming months.
The Cantonal Bank of Ticino, in partnership with Bank J. Safra Sarasin, is issuing a bond worth CHF 150 million with a maturity of 2 years, set to mature on November 27, 2024. The bond features a coupon rate of 0.85%, an issue price of 10.074%, and a yield of 0.813%, with a rating of Aa2 from Moody's. Trading will commence on SIX from November 25, 2024.
Valais Cantonal Bank is set to issue a bond worth 200 million francs, managed by Bank J. Safra Sarasin and UBS. The bond features a coupon rate of 0.800%, an issue price of 100.00%, and matures in two years on November 25, 2026, with payments scheduled for November 25, 2024. It will be listed on SIX starting November 21, 2024.
Bank J. Safra Sarasin AG
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
swiss national bank signals shift in monetary policy towards interest rate hikes
Swiss Franc
Zürcher Kantonalbank
Bank J. Safra Sarasin AG
Luzerner Kantonalbank
CHE
Elias Hafner
Thomas Rieder
Karsten Junius
Brian Mandt
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18:00 26.02.2025
snb cuts interest rates amid economic uncertainty and currency concerns
United States Dollar
Swiss Franc
Euro
Bank J. Safra Sarasin AG
Migros Bank (CH) Fds 65 V
Natixis Investment Managers SA
CHE
Mabrouk Chetouane
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Karsten Junius
Martin Schlegel
Philipp Burckhardt
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11:30 12.12.2024
snb cuts interest rates amid economic uncertainty and currency concerns
United States Dollar
Swiss Franc
Euro
Bank J. Safra Sarasin AG
Natixis Investment Managers SA
Lombard Odier Funds - All Roads
CHE
Mabrouk Chetouane
Nicola Tettamanti
Santosh Brivio
Karsten Junius
Martin Schlegel
Philipp Burckhardt
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11:30 12.12.2024
lawyer faces trial in switzerland over cum-ex scandal involvement
11:27 09.12.2024
swiss national bank faces pressure for significant interest rate cut
Swiss Franc
Julius Bär Gruppe AG
Bank J. Safra Sarasin AG
Raiffeisen-Osteuropa-Rent
CHE
Martin Schlegel
Karsten Junius
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14:46 06.12.2024
wealth rankings of banking families and managers in switzerland
Swiss Franc
Bank J. Safra Sarasin AG
UBS
Temenos AG
EFG International AG
Credit Suisse High Yield Bond Fund, Inc.
CHE
IND
LIE
Boris Collardi
Josef Ackermann
Colm Kelleher
Walter Kielholz
Oswald Grübel
Sergio Ermotti
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10:18 29.11.2024
banking families and managers see varied fortunes in latest wealth rankings
Swiss Franc
United States Dollar
Bank J. Safra Sarasin AG
Temenos AG
EFG International AG
UBS
Credit Suisse High Yield Bond Fund, Inc.
CHE
IND
LIE
Hans-Adam II, Prince of Liechtenstein
Prakash Hinduja
Martin Ebner
Eric Syz
Sergio Ermotti
Boris Collardi
Colm Kelleher
Oswald Grübel
Walter Kielholz
Josef Ackermann
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10:18 29.11.2024
economists predict multiple interest rate cuts leading to zero rates
18:00 26.11.2024
cantonal bank of ticino issues 150 million chf bond with low yield
12:30 08.11.2024
Valais Cantonal Bank issues 200 million franc bond with 0.8 percent coupon
13:09 07.11.2024
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