Naming new SNB head may take months: Finance minister

ZURICH (Reuters) – Switzerland might not name a permanent successor to Philipp Hildebrand as central bank chairman for several months, the country’s finance minister said on Wednesday, adding she had full confidence in the bank’s interim head.

Hildebrand May Give Evidence Amid Swiss Political Support

Swiss National Bank President Philipp Hildebrand will face questions from lawmakers in Bern today as he seeks to end a discussion over controversial currency purchases by his wife.

SNB’s Hildebrand Won’t Resign as He Turns Fire on Opponents

Philipp Hildebrand said he’ll stay at the helm of the Swiss National Bank and expressed regret that he didn’t curb his wife’s currency trading as he rounded on political opponents for trying to undermine his position.

N.Z. May Join Asia Holdouts as Australia Cuts Rate on Europe

New Zealand may keep interest rates at a record low, joining South Korea and Indonesia in holding borrowing costs this week after a deteriorating global outlook pushed Australia to ease monetary policy for the second month.

Credit Suisse Says ‘Momentous Deal’ Needed to Save Euro Zone

Euro leaders must reach “a momentous deal” toward fiscal and political union by mid- January to save the 17-nation bloc, Credit Suisse said in a note to investors.

Swiss Pleas to Raise Franc Cap Fail to Sway SNB on Crisis

The Swiss central bank is resisting calls from executives and politicians to further weaken the franc amid investor demand for a haven from the region’s sovereign debt crisis.

Franc Falls to Two-Week Low Amid Speculation of Tighter Euro Peg

The franc declined to a two-week low against the euro on speculation the Swiss National Bank will act to further limit its strength.

Swiss Franc Falls on Report Central Bank Remains Ready to Act

The Swiss franc declined against the dollar and the euro after central bank President Philipp Hildebrand said policy makers remain ready to act in case the franc’s strength threatens the country’s economy, in an interview published by NZZ am Sonntag.

SNB Foreign Currency Reserves Climbed to Record in September

The Swiss central bank’s currency holdings rose to a record last month after policy makers imposed a franc cap to help exporters and fight deflation threats.

SNB’s franc cap at right level for now: Swiss finance minister

CHUR, Switzerland (Reuters) – The Swiss National Bank’s franc cap is at the right level for now and the government has more drastic measures up its sleeve to counter the currency’s strength although it hopes it will not have to use them, the finance mi…

SNB Says It Will Defend Franc Cap ‘With Utmost Determination’

Switzerland’s central bank is determined to maintain the cap on the Swiss franc introduced earlier this month to help exporters, the bank’s president, Philipp Hildebrand said.

SNB’s Hildebrand says will enforce franc cap

WASHINGTON (Reuters) – Swiss National Bank Chairman Philipp Hildebrand said on Saturday he would do all that is necessary to maintain a ceiling on the Swiss franc, but declined to provide further details.


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