Datasets:
gtfintechlab
/
swiss_national_bank

Dataset card Data Studio Files
xet
Community
sentences
stringlengths
27
370
stance_label
stringclasses
4 values
time_label
stringclasses
2 values
certain_label
stringclasses
2 values
year
int64
2k
2.02k
__index_level_0__
int64
1
999
in addition, because of strong demand, higher production costs could be passed on to prices more easily
hawkish
forward looking
uncertain
2,008
511
however, it is still clearly above the range the snb equates with price stability
hawkish
not forward looking
certain
2,022
738
it is also providing liquidity as part of the extended swap arrangements with other central banks, particularly in us dollars
neutral
forward looking
certain
2,020
307
on a trade-weighted basis, the swiss franc is 1 for detailed information, please see thomas jordans introductory remarks to the news conference on 13 june 2019 at 10.00 am cet
irrelevant
not forward looking
uncertain
2,019
83
based on this scenario, economic resources should be fully utilised towards the end of 2006
hawkish
forward looking
certain
2,005
488
the m3 aggregate, which was still increasing at a moderate rate at our last assessment in june, has begun to advance more rapidly
hawkish
not forward looking
certain
2,009
566
overall, its assessment of global economic prospects is cautiously optimistic
neutral
forward looking
certain
2,015
317
to provide appropriate monetary conditions, the snb is also willing to be active in the foreign exchange market as necessary
neutral
forward looking
certain
2,022
244
against this backdrop, the snb expects gdp growth of 2.5 to 3 for 2021
neutral
forward looking
uncertain
2,020
713
according to the initial estimate, the swiss economy grew by 1.6 in the third quarter
hawkish
not forward looking
certain
2,019
403
weaker global economic activity would also be detrimental to economic growth in switzerland
dovish
forward looking
certain
2,014
357
that said, value added has been seriously impacted in industries particularly affected by the containment measures
hawkish
not forward looking
certain
2,021
674
the snb policy rate change applies from tomorrow, 16 december 2022
neutral
forward looking
certain
2,022
119
by continuing to use an inflation forecast as its guide, the snb can ensure that the exceptional measures currently in force do not compromise medium and long-term price stability
neutral
forward looking
certain
2,009
72
finally, the course of the coronavirus pandemic remains an important source of risk
dovish
forward looking
certain
2,022
264
it is too soon to tell whether this is an effect linked to the lowering of the three-month libor, as has been observed in the past
dovish
not forward looking
uncertain
2,009
914
there is a great deal of uncertainty, however, regarding the extent and the duration of this effect
neutral
forward looking
uncertain
2,007
359
the fourth quarter of 2008 saw a sharp slowdown in the world economy, which affected all countries simultaneously
dovish
not forward looking
certain
2,009
169
there is no indication that price stability might be jeopardised in the medium term
neutral
forward looking
certain
2,001
560
this is a reflection of the fact that the assessment of the inflation outlook has not changed significantly compared to the previous quarter
neutral
forward looking
certain
2,011
531
as in the previous quarter, the forecast is based on a three-month libor of 0.0 over the next three years
neutral
forward looking
certain
2,013
174
the global economic outlook has deteriorated slightly in recent months and the situation on international financial markets remains volatile
dovish
forward looking
uncertain
2,016
225
the snb still expects the moderate growth in the global economy to sustain over the coming quarters
neutral
forward looking
uncertain
2,016
575
the forecast is based on an unchanged three-month libor of 0.0 over the next three years
neutral
forward looking
certain
2,012
243
this scenario for the global economy is subject to high uncertainty, with risks on the upside and downside alike
neutral
forward looking
uncertain
2,021
589
however, if the uncertainty in the financial markets persists, it is conceivable that the momentum from abroad and the growth contribution from the domestic financial sector could be reduced
dovish
forward looking
uncertain
2,007
556
the global economy has improved over the past few months and the downturn in the swiss economy has proved to be considerably less substantial than had been forecast in the second quarter
neutral
not forward looking
certain
2,009
677
in its baseline scenario for switzerland, the snb anticipates a continuation of the economic recovery
neutral
forward looking
certain
2,021
416
gdp growth again exceeded potential growth and was broad based
hawkish
not forward looking
certain
2,011
893
assuming that the three-month libor rate will remain stable at 1.25, average annual inflation is expected to hover between 0.9 and 1.6 in the next three years
neutral
forward looking
uncertain
2,002
872
the new inflation forecast shows that, with a three-month libor of 2.75, the inflation outlook is almost unchanged from that in june
neutral
forward looking
certain
2,007
883
the inflation forecast has now been revised slightly upwards and, as a result, the risk of deflation has somewhat abated
neutral
forward looking
certain
2,009
173
at the end of the year, gdp and employment were still significantly below precrisis levels in most countries
dovish
not forward looking
certain
2,021
120
finally, the coronavirus pandemic remains an important source of risk for the global economy
dovish
forward looking
certain
2,022
261
for 2010 and 2011, inflation will remain very close to zero, because output will be below potential and unemployment will be high
dovish
forward looking
certain
2,009
304
due to the risks mentioned previously, this conditional inflation forecast is associated with a very high level of uncertainty
neutral
forward looking
uncertain
2,011
913
for 2016 as a whole, it still anticipates real gdp growth of between 1 and 1.5
neutral
forward looking
certain
2,016
512
the snbs conditional inflation forecast of september points to significantly lower inflationary pressure in the medium term
dovish
forward looking
uncertain
2,014
973
even at the current rate, the swiss franc is still high
dovish
forward looking
certain
2,012
127
the global economy has continued to recover in line with the snbs expectations
neutral
forward looking
certain
2,016
313
assuming that the three-month libor remains unchanged at 2.75, the snb expects an average annual inflation rate of 0.6 in 2007, 1.5 in 2008, and 1.8 in 2009
hawkish
forward looking
uncertain
2,007
841
the rise in long-term interest rates can be expected to stabilise money growth to a certain degree
hawkish
forward looking
uncertain
2,011
901
exports have surged, boosted in particular by demand from europe, with equipment goods and semi-manufactures being especially favoured
hawkish
forward looking
certain
2,007
349
to date, the crises of confidence in turkey and argentina have not materially impacted the global economic outlook
neutral
not forward looking
certain
2,018
830
however, the importance of temporary factors such as supply bottlenecks is likely to diminish over the medium term
neutral
forward looking
certain
2,022
156
should unexpected developments push up the swiss franc sharply, the national bank will take appropriate action
dovish
forward looking
uncertain
2,004
723
under the current circumstances, it will endeavour to take decisive steps to counter a tightening of monetary conditions through the appreciation of the swiss franc
dovish
forward looking
certain
2,003
322
overall, the swiss franc is significantly overvalued and should continue to weaken over time
dovish
forward looking
uncertain
2,015
687
like the june forecast dash-dotted green line, it is based on the assumption of the threemonth libor rate remaining constant at 0.75
neutral
forward looking
uncertain
2,005
376
the latest developments in the international financial markets mortgage crisis in the us, correction on stock markets, liquidity shortage on the money markets have made it difficult to assess the international environment
neutral
not forward looking
uncertain
2,007
573
renewed turbulence in the international financial markets could have a major impact on global monetary policy
dovish
forward looking
uncertain
2,015
385
swiss gdp growth was moderate in the first quarter of 2024
neutral
not forward looking
certain
2,024
827
this development makes it possible to reduce rates again
dovish
not forward looking
certain
2,001
755
with the measures decided today, the snb is forecasting average annual inflation for the following two years of virtually zero
dovish
forward looking
uncertain
2,009
721
for 2015, forecast inflation will even turn negative, at 0.1
dovish
forward looking
certain
2,014
370
the national bank has pointed out on several occasions that we ought not be deceived by the relative stability of the swiss franceuro exchange rate
neutral
not forward looking
certain
2,007
600
the economic situation has deteriorated sharply since last december, and there is a risk of negative inflation over the next three years
dovish
forward looking
certain
2,009
255
without todays snb policy rate increase, the inflation forecast would be even higher over the medium term
hawkish
forward looking
certain
2,022
230
the risks in the international environment, however, have increased markedly causing growing uncertainty as to the further development in switzerland
dovish
forward looking
uncertain
2,001
711
the negative interest rate and the snbs willingness to intervene in the foreign exchange market are intended to make swiss franc investments less attractive, thereby easing upward pressure on the currency
dovish
forward looking
certain
2,016
877
in this environment, unemployment is likely to continue to rise gradually, and the utilisation of production capacity is likely to decline somewhat further
dovish
forward looking
uncertain
2,024
964
the latest forecast expects inflation to rise to over 2 in the second half of 2005, given a constant interest rate of 0.25
hawkish
forward looking
uncertain
2,003
771
this kind of development cannot be likened to a rationing effect, since it is not due to an autonomous fall in supply
neutral
not forward looking
certain
2,009
460
in the emerging economies, performance remained uneven, while growth continued to cool in china
neutral
forward looking
certain
2,015
111
moreover, a growing number of banks are expecting to do so in the near future
irrelevant
forward looking
certain
2,009
122
that the new forecast is higher over the medium term despite the raising of the snb policy rate is attributable to stronger inflationary pressure from abroad and the fact that price increases are spreading across the various categories of goods and services in the consumer price index
hawkish
forward looking
certain
2,022
345
this does not jeopardise price stability
neutral
not forward looking
certain
2,002
634
the new inflation forecast calculated with a constant interest rate of 2.25 is shown in red
neutral
forward looking
uncertain
2,007
692
most mortgage loans are construction loans
irrelevant
not forward looking
certain
2,009
22
the fourth quarter of 2004 and the first quarter of 2005 saw a stagnation of economic activity in switzerland, with the high price of oil as well as the depreciation of the dollar in the final quarter of 2004 acting as brakes
dovish
not forward looking
certain
2,005
780
the national bank will therefore keep a close watch on the developments in the financial markets, the global economy, the price of oil and the swiss franc so as to assess their impact on the inflation
hawkish
forward looking
uncertain
2,008
668
as compared to our june assessment, the outlook for inflation has remained largely unchanged, with the exception of the end of the three-year forecast period
neutral
forward looking
uncertain
2,006
994
banks sight deposits held at the snb are remunerated at the snb policy rate up to a certain threshold, and at 1.25 above this threshold
neutral
not forward looking
certain
2,023
443
assuming an unchanged three-month libor of 0.25, average inflation for 2010 is expected to amount to 0.7, for 2011 to 0.3 and for 2012 to 1.2
hawkish
forward looking
certain
2,010
267
like the previous forecast dashdotted green curve, it is based on the assumption that the three-month libor remains unchanged at 2.75
neutral
forward looking
uncertain
2,008
701
against this background, the swiss national bank snb is making another interest rate cut and acting to prevent any further appreciation of the swiss franc against the euro
dovish
not forward looking
certain
2,009
926
mortgage growth has remained largely unchanged
neutral
forward looking
certain
2,023
170
while the service industries experienced mainly robust growth, value added in manufacturing declined
neutral
not forward looking
certain
2,013
272
if a deflation threat emerges, the snb would take the measures necessary to ensure price stability
dovish
forward looking
uncertain
2,010
65
the moderate inflation rate is due mainly to declining prices for foreign goods, notably for oil products
neutral
not forward looking
certain
2,002
151
mortgage lending and residential property prices have risen strongly in recent quarters
hawkish
not forward looking
certain
2,021
756
as regards the global economy, the risks remain to the downside, owing to numerous structural problems
dovish
forward looking
uncertain
2,016
939
the snb stands ready to enforce the minimum exchange rate, if necessary, by buying foreign currency in unlimited quantities, and to take further measures as required
dovish
forward looking
uncertain
2,013
922
in view of this development, the snb has decided to purchase foreign currency on the foreign exchange market, to prevent any further appreciation of the swiss franc against the euro
hawkish
forward looking
certain
2,009
451
the swiss franc is highly valued, and the situation on the foreign exchange market is still fragile
dovish
not forward looking
certain
2,018
391
after that, it is significantly higher for the period of one year
irrelevant
forward looking
certain
2,007
204
inflation prospects for 2006 are slightly less favourable than in the june forecast, but for 2007 they have remained virtually unchanged
neutral
forward looking
certain
2,005
229
internationally, however, growth was not broad-based
dovish
not forward looking
certain
2,015
299
moreover, they signalled that they would probably leave their policy rates at a low level for an extended period of time
dovish
forward looking
certain
2,019
276
not until 2017 will inflation move into positive territory again, at 0.4
hawkish
forward looking
certain
2,015
486
it is therefore keeping a close watch on this sector
neutral
forward looking
certain
2,005
534
with the decline in the quality of certain borrowers during a recession and the contraction in economic activity, it is inevitable that a cyclical tightening of lending conditions, or even a fall in the amount outstanding, will occur
dovish
forward looking
certain
2,009
978
since march 2001, the national bank has eased its monetary policy substantially, lowering the target range for the three-month libor by a total of 2.75 percentage points
dovish
not forward looking
certain
2,002
884
notably, inflation in the private service sector has receded
dovish
not forward looking
certain
2,003
541
the snb will therefore continue to keep a close watch on these factors, so as to be able to react quickly should the need arise
neutral
forward looking
certain
2,008
983
it is keeping the snb policy rate and interest on sight deposits at the snb at 0.75
neutral
not forward looking
certain
2,020
969
this will also have an impact on the economic development in our country
neutral
forward looking
certain
2,002
972
the snb is now expecting the inflation rate to be 0.2 percentage points lower for both 2014 and 2015, at 0 and 0.4 respectively
dovish
forward looking
uncertain
2,014
980
the trade-weighted external value of the swiss franc has increased further, mainly as a result of the recent weakness of the euro
dovish
forward looking
certain
2,010
305
they continue to curb the international economy and exert inflationary pressure
hawkish
forward looking
certain
2,008
348