Jean-Pierre Roth, the low-key chairman of the Swiss National Bank (SNB), is not the type of person you would expect to shock the financial world. But that is exactly what he did on March 12 when he confirmed that the bank was implementing its intention to buy foreign currency, or in other words, it was selling the Swiss franc. Meanwhile, the SNB's currency-intervention gambit was immediately successful, with the Swiss franc plunging 8% in a single day.
ZRICH, Switzerland (Reuters) - The supervisory council of the Swiss National Bank forcedto step down as chairman after e-mails about a currency trade by his wife failed to clear him of involvement in the deal, newspapers reported on Tuesday [Jan. 10]. Hildebrand's wife, a former hedge fund trader who now runs a Zrich art gallery, bought 400,000 Swiss francs ($418,000) worth of dollars on Aug. 15, three weeks before her husband oversaw steps to cap the rise of the safe-haven franc. She later sold the dollars at a higher rate.
...Jean-Pierre Roth, the former SNB chairman who handed over to Mr. Hi...
... 126 Cf. Southmark Corp. v. Schulte Roth & Zabel (In re Southmark Corp.), 88 F.3d 311, 316 ...
It is clear that 2009 is not a year on which the world's central bankers will look back with undiluted pleasure. They can congratulate each other, however, on having survived this annus horribilis. At some point it will become necessary to stop the presses from printing more money before another bubble forms. The Bank of Israel in August became the first major central bank to raise interest rates since the global economic crisis intensified in the wake of the fall of Lehman Brothers in September 2008. To date, the financial system has not been noticeably reformed. The business of banking is slowly returning to usual. Incentives for performance remain focused on the short term. Financial engineers are designing new products, raking into account a slight toughening of regulations and a mo...
...Switzerland. Jean-Pierre Roth. Grade: B. Switzerland's central bank has been muc...
Recent shifts in energy and commodity price trends and the resurgence of the dollar add new elements to the equations that central bankers rely on to chart their courses. One thing that is clear from recent events, however, is that central banking remains as much an art as a science. It differs from country to country, depending on the circumstances and the monetary tools available. There are common standards of excellence, nonetheless, such as a determination to fight inflation to provide a stable environment for growth and a willingness to make tough decisions in the face of strong political pressures. Passing the buck was easy this year, as virtually every central banker could point to global forces beyond their control as the reason for their own failures. Fortunately, there were en...
...SWITZERLAND. JEAN-PIERRE ROTH. GRADE: C. The Swiss National Bank has kept intere...
... el 1 de marzo, sustituyendo a Jean-Pierre Roth. . ...
Even though most central banks have been raising interest rates, inflation has been rising at the same time. Every country's situation is different, of course, and many central bankers have had to deal with unique crises. Stanley Fischer of the Bank of Israel had to calculate the costs of war on his country's economy. Zhou Xiaochuan has had to deal with international pressure to revalue the yuan at the same time as trying to slow China's booming economy and clean up the banking system. The challenges are more complex than ever, but this year's crop of central bankers has done a good job for the most part. There are also a few cases where central bankers are obviously on the wrong course. The 2006 Central Banker Report Cards are presented.
...SWITZERLAND. JEAN-PIERRE ROTH. GRADE: B. Jean-Pierre Roth says monetary policy i...
.... (17) Jean-Pierre Roth, governor of the Swiss National Bank, though favou...
... Switzerland's central banker Jean-Pierre Roth announced that the bank would be selling francs (s...
Smell that? That's promise. It's in the air around this time when Hollywood releases its most prestigious films of the year, along with some of its most highly anticipated blockbusters - sometimes they are even wrapped in the same holiday package.
... 2009), Pam Grier, Catherine Hardwicke, Eli Roth and Paul W.S. Anderson. Iron Lady: Meryl Streep is...
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