Datasets:
gtfintechlab
/
swiss_national_bank

Dataset card Data Studio Files
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Community
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1
999
on the one hand, new waves of infection could weigh on economic activity again
dovish
forward looking
uncertain
2,021
829
to this end, it will increase liquidity substantially by engaging in additional repo operations, buying swiss franc bonds issued by private sector borrowers and purchasing foreign currency on the foreign exchange markets
dovish
not forward looking
certain
2,009
927
for 2020, the snb expects inflation of 1.0, compared with its previous forecast of 1.2
dovish
forward looking
uncertain
2,018
550
in its new baseline scenario for the global economy, the snb is revising down its growth forecast for the coming quarters
dovish
forward looking
certain
2,019
455
to strengthen the banks in this role, the snb is raising the exemption threshold as of 1 april 2020, thus reducing the negative interest burden on the banking system
dovish
forward looking
certain
2,020
766
expenditure on equipment investment was cut significantly
dovish
not forward looking
certain
2,009
574
for 2020, the snb expects to see inflation of 1.2, compared with the 1.6 forecast in the last quarter
dovish
forward looking
certain
2,018
421
however, germanys economic upturn stands out considerably from the european average
neutral
not forward looking
certain
2,011
691
the imponderables with respect to the development of the global economy remain considerable, and a sustained economic upswing in switzerland is not likely until some time in the second half of 2003
dovish
forward looking
uncertain
2,002
690
although the situation on the global financial markets has eased somewhat, the minimum exchange rate, with the three-month libor close to zero, remains essential
dovish
not forward looking
certain
2,013
650
all in all, positive economic signals in recent months have helped ease the situation on the international financial markets, which were dominated by turbulence at the start of the year
neutral
not forward looking
certain
2,016
890
gdp is likely to expand by around 1 in 2019, and the snb expects growth of between 1.5 and 2 in 2020
hawkish
forward looking
uncertain
2,019
954
production capacity will therefore remain underutilised for longer than previously assumed, and the recovery on the labour market is also likely to be delayed
dovish
forward looking
uncertain
2,014
585
international trade tensions and political uncertainty have weighed on the global economy in recent months
dovish
not forward looking
certain
2,019
519
the positive development in the first half of the year was, however, partly due to special factors
neutral
not forward looking
certain
2,018
520
higher-than-expected inflation at the beginning of the year and the higher forecast for the whole of 2008 are due to brisk demand on the goods, services and labour markets, the high level of capacity utilisation which facilitates the passing on of costs, the price of oil, raw materials and other goods and finally the delayed effects of the weak exchange rate in 2007
hawkish
not forward looking
certain
2,008
10
for 2022 as a whole, gdp grew by 2.1
hawkish
not forward looking
certain
2,023
206
in the meantime, the risk of a further weakening of economic activity and the associated danger of a deflationary price development in switzerland have become smaller
neutral
forward looking
certain
2,002
819
economic recovery is not yet sustainable
hawkish
not forward looking
certain
2,010
753
several factors are supporting this growth
neutral
forward looking
certain
2,015
491
for the time being, it intends to keep the three-month libor rate in the middle of the target range at 0.75
neutral
not forward looking
certain
2,004
543
the inflation prospects have changed since the monetary policy assessment in december 2006
neutral
forward looking
certain
2,007
666
inflation could remain elevated for longer in some countries, necessitating a further tightening of monetary policy there
hawkish
forward looking
uncertain
2,023
308
the second wave of the pandemic is also taking its toll on the labour market
dovish
forward looking
certain
2,021
171
for the current year, the snb continues to anticipate inflation of 0.9
neutral
forward looking
certain
2,018
45
under the present circumstances, this represents an inappropriate tightening of monetary conditions
dovish
not forward looking
certain
2,009
699
in its baseline scenario for switzerland, the snb anticipates a continuation of the economic recovery next year
neutral
forward looking
certain
2,021
139
while growth in mortgage lending remained relatively low in 2017, residential property prices rose again slightly
neutral
not forward looking
certain
2,017
216
consequently, for 2007 as a whole, gdp growth came to 3.1
neutral
not forward looking
certain
2,008
366
the low interest rates are designed to continue keeping swiss franc investments fairly unattractive
dovish
forward looking
certain
2,003
176
the gradual improvement of the global economy is likely to further strengthen foreign demand for swiss goods and services
neutral
forward looking
uncertain
2,015
920
capacity utilisation is thus on the rise and companies are also becoming increasingly willing to invest
hawkish
forward looking
certain
2,017
258
economic indicators are currently pointing to moderately positive momentum
neutral
forward looking
certain
2,019
49
the risks to this positive baseline scenario are more to the downside
dovish
forward looking
certain
2,018
433
gdp contracted again in the second quarter
dovish
not forward looking
certain
2,009
930
real estate prices, by contrast, climbed at a marginally faster rate
hawkish
not forward looking
certain
2,016
946
sight deposits above this threshold will be remunerated at an interest rate of 1.0, and thus still at a discount of 0.5 percentage points relative to the snb policy rate
neutral
forward looking
certain
2,023
344
during the last few months, the inflation rate has risen considerably as a result of the increase in energy prices
hawkish
not forward looking
certain
2,008
936
inflation reached 2.9 in may and is likely to remain at an elevated level for the time being
hawkish
forward looking
uncertain
2,022
824
the national bank uses the inflation forecast to summarise its assessment of the inflation outlook and to communicate the future need for action in monetary policy
neutral
not forward looking
certain
2,006
741
nevertheless from mid-2015 onwards, inflation will be lower than forecast in the previous quarter
dovish
forward looking
certain
2,014
999
the oil price expectations were adjusted slightly upwards compared with the previous assessment in december
neutral
forward looking
certain
2,006
855
to ensure appropriate monetary conditions, the snb is also willing to be active in the foreign exchange market as necessary
neutral
forward looking
certain
2,022
751
the outlook for the advanced economies, in particular, has worsened considerably
dovish
forward looking
certain
2,011
124
the coronavirus pandemic and the measures implemented to contain it led to a historic downturn in the global economy in the first half of 2020
dovish
not forward looking
certain
2,020
242
despite the turbulence in the financial markets, the swiss franc has remained relatively stable
neutral
forward looking
certain
2,008
161
as of september, banks will therefore be required to provide more capital backing for residential mortgage loans in switzerland
dovish
forward looking
certain
2,013
42
added to this, a renewed deterioration in the pandemic situation cannot be ruled out
dovish
forward looking
uncertain
2,022
621
survey-based labour demand indicators have recovered further
hawkish
not forward looking
certain
2,016
524
due to the favourable course of inflation, it was in this way able to react effectively to the decline in economic growth and the upward trends of the swiss franc
dovish
not forward looking
certain
2,003
212
at the same time, high inflation could become entrenched as a result of increased secondround effects, requiring stronger monetary policy responses in other countries
hawkish
forward looking
uncertain
2,022
718
towards the end of the forecast horizon, inflation rises briskly and exceeds the upper bound of 2, assuming that the three-month libor remains at the current level
hawkish
forward looking
certain
2,011
262
at an annualised rate of 0.2, second-quarter gdp growth in switzerland was distinctly lower than forecast in june
dovish
not forward looking
certain
2,014
91
equally, geopolitical tensions could increase
dovish
forward looking
uncertain
2,024
813
for 2013, the snb expects growth of 1.01.5
neutral
forward looking
certain
2,012
401
the rate of growth of mortgage loans attained 3.6 in july
dovish
not forward looking
certain
2,008
761
annual inflation measured by the national consumer price index cpi increased from 0.4 in january to 1.1 in april
hawkish
not forward looking
certain
2,002
579
this is primarily due to the rise in oil prices and the weaker swiss franc
hawkish
not forward looking
certain
2,021
991
the swiss national bank is leaving the target range for the three-month libor rate unchanged at 0.251.25
neutral
forward looking
certain
2,005
13
however, inflation prospects have deteriorated slightly due to the good state of the economy, the continued high price of oil and the low level of the swiss franc
hawkish
forward looking
certain
2,007
583
this march forecast is the first of these
irrelevant
forward looking
certain
2,003
458
this is due to the prices of imported goods and services, in particular oil
neutral
not forward looking
certain
2,009
966
for 2012, the snb is expecting inflation of 0.3 and for 2013, of 0.4
neutral
forward looking
uncertain
2,011
673
the snb will continue to monitor the situation closely
neutral
forward looking
certain
2,013
73
it is thus just within the range of price stability at the end of the forecast horizon
neutral
forward looking
certain
2,023
508
as a result of the deterioration in the global economic outlook and the downward revision of gdp for earlier quarters, the snb is now expecting growth of around 1 for switzerland in 2012, as opposed to the 1.5 projected in the june forecast
dovish
forward looking
uncertain
2,012
592
the global economy exhibited strong, broad-based growth in the second quarter
neutral
not forward looking
certain
2,017
938
recent indicators show that this is again having a detrimental impact on economic activity
dovish
not forward looking
certain
2,020
581
at the same time, the moderate pace of global growth should continue
neutral
forward looking
uncertain
2,024
528
the forthcoming assessment of banks balance sheets in the euro area as well as the further course of monetary policy normalisation in the major currency areas could lead to noticeable spikes on international financial markets
hawkish
forward looking
uncertain
2,013
202
as from mid-2003 onwards, inflation will again develop in line with the forecast published in december
neutral
forward looking
certain
2,002
232
swiss gdp growth was moderate in the fourth quarter of last year
neutral
not forward looking
certain
2,024
777
the snb continues to anticipate growth of just under 1 for 2015 as a whole
neutral
forward looking
certain
2,015
138
annualised growth was down to 1.7 from the previous quarter, compared with 2.0 in the first quarter
dovish
not forward looking
certain
2,001
477
the swiss national bank snb is leaving the minimum exchange rate of chf 1.20 per euro unchanged
neutral
forward looking
certain
2,013
54
the snb therefore welcomes the latest revision of the self-regulation guidelines for banks in the area of investment properties, which enters into force in january 2020
neutral
forward looking
certain
2,019
24
the new conditional inflation forecast for the coming quarters is slightly lower than in september
dovish
forward looking
certain
2,019
427
it covers the period from the third quarter of 2010 to the second quarter of 2013 and shows 16 september 2010 3 future inflation developments on the assumption of the three-month libor remaining constant at 0.25 over the entire forecasting horizon
neutral
not forward looking
certain
2,010
774
the economic recovery, while certainly underway, nevertheless remains fragile
dovish
not forward looking
certain
2,009
925
the improvement in the inflation outlook has provided room for manoeuvre which the snb is decisively using
dovish
forward looking
certain
2,008
107
moreover, not all industries have benefited equally from the recovery
neutral
not forward looking
certain
2,016
297
in switzerland, the economic recovery has lost momentum since october 2020 in the wake of the second wave of the pandemic
dovish
forward looking
certain
2,021
143
the low point in terms of economic activity came in april
dovish
not forward looking
certain
2,020
153
this has led to a general increase in inflation
hawkish
not forward looking
certain
2,008
759
consequently, in the foreseeable future, there is no risk of inflation in switzerland
neutral
forward looking
certain
2,012
640
the interest rate on sight deposits with the snb remains at 0.75
neutral
not forward looking
certain
2,015
818
likewise, structural weaknesses in key emerging markets and political tensions in various regions could weigh on the global economic recovery
dovish
forward looking
uncertain
2,014
20
particularly strong advances were recorded by retail and wholesale trade, the financial industry and construction
hawkish
not forward looking
certain
2,010
548
without todays rate cut, the forecast would have been lower
dovish
not forward looking
certain
2,024
284
in the advanced economies, growth was slightly more positive than in the first quarter; this was mainly attributable to the economic recovery in the us
neutral
not forward looking
certain
2,015
638
in addition to supply chain problems, higher energy prices also played an important role in this respect
hawkish
not forward looking
certain
2,021
394
consequently, the snb is holding the target range for the three-month libor at 00.75
neutral
forward looking
certain
2,009
425
the central federal administration and the compensation funds for old age and survivors insurance, disability insurance and the fund for loss of earned income compenswiss are currently exempted
irrelevant
not forward looking
certain
2,019
347
11 march 2010 2 developments in the global economy are largely as expected
neutral
not forward looking
certain
2,010
57
provided the economic recovery is substantiated, the snb will adjust the expansionary monetary policy it has pursued for a long time now
dovish
forward looking
certain
2,005
182
the change applies from tomorrow, 22 march 2024
irrelevant
forward looking
certain
2,024
974
it is also continuing to supply the banking system with liquidity on generous terms
dovish
not forward looking
certain
2,021
757
this is slightly stronger than the snb had expected in september, the reason being that activity in certain service industries such as hospitality was more dynamic than was assumed at that time
hawkish
not forward looking
certain
2,021
183
with this tiered remuneration of sight deposits and open market operations, the snb is ensuring that the secured short-term swiss franc money market rates are close to the snb policy rate
neutral
forward looking
certain
2,022
319
growth is likely to remain modest in the coming quarters
neutral
forward looking
uncertain
2,024
835