<p>SNB Chair Thomas Jordan spoke with newspaper SonntagsBlick in an interview ahead of the Bank’s upcoming policy decision due on March 23:</p><ul><li>“At the moment <a target=“_blank“ href=“https://www.forexlive.com/terms/i/inflation/“ class=“terms__main-term“ id=“ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa“ target=“_blank“>inflation</a> is too high in our country and we are doing everything we can to bring it back into the area of price stability“</li><li> „Price stability is our main task. We define that conservatively as inflation of less than 2%“</li></ul><p>Jordan spoke last week, hinting at the potential for higher rates ahead:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/snb-chairman-we-cannot-rule-out-that-we-will-have-to-tighten-monetary-policy-again-20230307/“ target=“_blank“ rel=“follow“ data-article-link=“true“>SNB Chairman: We cannot rule out that we will have to tighten monetary policy again</a></li></ul><p>The interview Jordan gave with SonntagsBlick will be his last public comment ahead of the SNB’s policy meeting on the 23rd. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.

<p>On Sunday China’s new

Premier Li Qiang nominated Yi Gang to remain governor of the People’s Bank of China (PBOC) and Liu Kun to stay on as finance minister.</p><p>This is being interepreted as President Xi Jinping opting for a measure of continuity in key economic policymaking posts. Yi was appointed as PBOC governor in 2018 but had been had been widely expected to retire after being left off the ruling Communist Party’s Central Committee during the party’s once-in-five-years congress in October.</p><p>China’s parliament, the National People’s Congress, will vote to approve the nominations on Sunday, a rubber-stamp process. UPDATE – the vote has taken place, all confirmed. </p><p>People’s Bank of China Governor Yi Gang has overseen relatively stable <a target=“_blank“ href=“https://www.forexlive.com/terms/i/inflation/“ class=“terms__main-term“ id=“ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa“ target=“_blank“>inflation</a> in China. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.

<p>The FDIC and <a target=“_blank“ href=“https://www.forexlive.com/terms/f/federal-reserve/“ class=“terms__main-term“ id=“0139b451-c49a-48a1-8365-838a83595a97″ target=“_blank“>Federal Reserve</a> is mulling a fund that would allow regulators to backstop more deposits at banks that run into trouble, <a target=“_blank“ href=“https://www.bnnbloomberg.ca/us-discusses-fund-to-backstop-deposits-if-more-banks-fail-1.1894175″ target=“_blank“ rel=“nofollow“>according to a Bloomberg report</a>.</p><p>The report says regulators discussed what would be a new special vehicle in conversations with bank executives, citing people familiar.</p><p>“
The hope is that setting up such a vehicle would reassure depositors and help contain any panic, said the people.,“ according to the report.</p><p>This sounds like an interesting option because it lets Silicon Valley Bank go while trying to step the contagion, though the details here are far from certain.</p><p>A separate report says US regulators are racing to sell SVB assets and make a portion of clients‘ uninsured deposits available as soon as Monday. The sources in the report said 30-50% or more.</p>

This article was written by Adam Button at www.forexlive.com.