A Swiss national flag flutters in the wind atop the Swiss National Bank SNB headquarters in Bern, Switzerland. Reuters
Five years after Swiss National Bank (SNB) upended global currency markets by scrapping the Swiss franc’s peg to the euro, it is under widening pressure to adjust its ultra-loose monetary policy.
Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk divisions.
Australia’s strong economic performance of recent decades has allowed its central bank to avoid the kinds of unorthodox policies seen in other countries, but record low rates mean less conventional measures may be needed to tackle new challenges.
In Europe, the pan-regional STOXX 600 index dropped 0.2% by 07:07 GMT.
DAE, a long-term Boeing partner, has 162 Boeing aircraft in its fleet. The 737 MAX 8 is a member of the 737 MAX family designed to offer more fuel efficiency, reliability, and flexibility in the single-aisle airplane market.
Brent crude futures for June delivery had risen by 66 cents, or 1%, to $67.71 a barrel as at 06:42 GMT while US West Texas Intermediate (WTI) crude futures for May delivery were up 70 cents, or 1.1%, at $64.08 barrel.