* SNB head says closely following events at Chinese property group. * Wrong to be alarmist, but also wrong to dismiss woes - Jordan. * Big Swiss banks play down the issue. The Swiss National Bank is closely monitoring the situation at China's Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns its debt problems could pose risks to China's financial system.
The Swiss National Bank is closely monitoring the situation at China's Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns its debt problems could pose risks to China's financial system.
* SNB keeps policy rate unchanged as expected. * Sees inflation staying tame. * Cuts 2021 Swiss economic growth outlook. By John Revill. The Swiss National Bank bucked the trend at its central bank counterparts in Frankfurt and Washington and kept its foot on the cheap money gas as it cut its forecast for Switzerland's post-pandemic recovery.
The Swiss National Bank is closely monitoring the situation at China's Evergrande Group, SNB Chairman Thomas Jordan said on Thursday, amid concerns that its debt problems could pose risks to China's financial system.
* Increase shows the SNB trying to moderate franc strengthening. * Swiss Q2 current account surplus widens to 10.5 billion francs. By John Revill. The Swiss National Bank appeared to increase its foreign currency interventions during the second quarter, although the level of purchases was far lower than a year earlier, when it was fighting to stop the Swiss franc from appreciating too much.
Switzerland ran a current account surplus of nearly 11 billion Swiss francs during the second quarter, 7 billion francs higher than a year earlier, the Swiss National Bank said on Wednesday. The increase was mainly due to a higher receipts surplus in the goods trade, the central bank said.
Stock market flows and overseas investment returns are emerging as major drivers for Switzerland's currency in a shift that may already have triggered changes in how the country's central bank responds to franc strength.
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