Central bank minutes · Switzerland
Switzerland SNB Monetary Policy Meeting Minutes
The Switzerland SNB Monetary Policy Meeting Minutes is the written account of the Swiss National Bank's latest policy meeting: the arguments made, the risks discussed and how members voted.
- Wichtigkeit
- High
- Währung
- CHF · Swiss franc
- Zentralbank
- The Swiss National Bank
Neueste Zahlen
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Warum es wichtig ist
The decision itself is known weeks earlier; the minutes show how close the committee was to a different decision and what would change its mind. Traders scan them for hints about the next move in the SNB policy rate, so a more hawkish or dovish tone than expected moves the Swiss franc and short-term bond yields.
So wird gerechnet
There is no figure. The central bank's staff write a summary of the meeting, approved by the members and published on a set date (three weeks after the meeting for the Fed, four for the ECB's accounts).
Was Veränderungen bedeuten
- Count the references to inflation risks against growth risks.
- "Many" or "most" members holding a view means more than "a few" or "some".
- Disagreement in the committee often foreshadows a change of direction.
Höher als erwartet: A more hawkish tone than expected tends to lift the Swiss franc and short-term yields.
Niedriger als erwartet: A more dovish tone than expected tends to weaken the Swiss franc and lower short-term yields.
Eine kurze Geschichte
The Federal Reserve began publishing FOMC minutes with a delay of three weeks in 2005 (it used to wait for the next meeting); the Bank of England publishes minutes with each decision since 2015, and the ECB began publishing accounts of its meetings in 2015.
Fragen
What is the Switzerland SNB Monetary Policy Meeting Minutes?
The Switzerland SNB Monetary Policy Meeting Minutes is the written account of the Swiss National Bank's latest policy meeting: the arguments made, the risks discussed and how members voted.
Nur Bildungsinhalte, keine Anlageberatung. Die Zahlen sind die veröffentlichten Ergebnisse, wie sie unser Kalender erfasst hat; die beschriebenen Marktreaktionen sind typisch, nicht garantiert.