Swiss central bank uses SNB bills and repo transactions to suck up liquidity – Maechler

Swiss central bank uses SNB bills and repo transactions to suck up liquidity – Maechler

ZURICH (Reuters) – The Swiss National Bank will use bank bills and repo transactions to suck up liquidity in order to ensure short-term money market prices stay close to the now positive policy rate, board member Andrea Mitchler said on Thursday.

β€œWe are adjusting our implementation approach,” Maichler said in comments prepared for a speech she was due to deliver after the SNB announced the rate hike, adding that the new approach is to suck up liquidity via open market operations and tiered bonuses to demand deposit banks. Wait at the SNB.

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