Arab Today, arab today swiss national bank not ruling out negative rates
Last Updated : GMT 22:51:18
Arab Today, arab today
Arab Today, arab today

Swiss National Bank not ruling out negative rates

Arab Today, arab today

Arab Today, arab today Swiss National Bank not ruling out negative rates

Swiss National Bank
Geneva - AFP

Swiss National Bank chief Thomas Jordan on Monday said he did not rule out using negative interest rates to ward off the spectre of deflation.
"We want to avoid deflation, and there are a number of potential measures. Nothing's ruled out, notably negative rates," Jordan told reporters at the Geneva Press Club.
Negative interest rates are a measure that encourages savers to withdraw and spend their money, rather than racking up costs by leaving it in the bank.
Deflation, or a repeated fall in prices, is seen as a risk because it can encourage would-be purchasers to hold off spending in order to pay less later, thereby slowing the pace of an economy.
Jordan said that deflation risks were on the rise.
"Developments in the global economy have not been as good as expected. Inflation has been very weak, and the risk of deflation is rising," he underlined.
The bank has forecast annual inflation this year will be just 0.1 percent.
Jordan also said that "nothing has been ruled out" regarding a new minimum exchange rate for the Swiss franc with the euro.
With the strong franc and high labour costs making it hard to beat rivals on price, Switzerland's firms have long made quality their selling point.
But as the Swiss currency gained ever more clout against the embattled euro, in September 2011 the bank set a floor rate of 1.20 francs to the euro, in an effort to protect exporters.
Since then, the bank has intervened whenever necessary to protect the rate, by buying up euros.
In 2011, it spend 11 billion francs doing so, and another 188 billion francs between May and September 2012, at the height of the eurozone crisis.
Jordan also reiterated that the bank had earlier this month cut its economic growth forecasts.
It estimates that Switzerland's gross domestic product will grow by 1.5 percent this year, down from the 2.0 percent it forecast in June.
Inflation, meanwhile, is expected to rise only narrowly from this year's 0.1 percent to 0.2 percent in 2015 and 0.5 percent in 2016.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swiss national bank not ruling out negative rates Arab Today, arab today swiss national bank not ruling out negative rates

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday