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Negative interest rates are essential for Swiss economy, nation's central banker says
By Sam Jones
Financial Times, London
Thursday, October 31, 2019
Negative interest rates are "essential" for the Swiss economy and will not be reversed without a significant change in global economic conditions, Thomas Jordan, head of the Swiss National Bank, warned today.
Mr. Jordan's remarks come amid mounting concern in Switzerland that the country's nearly five-year long rate-setting experiment -- aimed at curbing the appreciation of the franc and protecting exports -- is beginning to create severe structural problems.
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Great Bear Drills New Near-Surface High-Grade 'Yauro Zone' Discovery at Dixie:
10.32 g/t Gold Over 18.20 m, 5.60 g/t Gold Over 25.25 m, and 16.60 g/t Gold Over 6.00 m
Wednesday, October 30, 2019
VANCOUVER, British Columbia, Canada -– Great Bear Resources Ltd. (TSX-V: GBR) today reported new results from its ongoing, fully-funded 90,000-metre drill program at its 100%-owned Dixie project in the Red Lake district of Ontario.
Three new gold discoveries have been made and drill results disclosed in this announcement are from the following zones along the LP Fault: Yauro (new zone), Viggo (new zone), Bear-Rimini, Northwest of Bear Rimini; and along the North Fault (new zone), which runs parallel to the LP Fault. ...
Results include: 32 g/t gold over 2.65 metres and 21.33 g/t gold over 3.30 metres, within a wider interval of 5.14 g/t gold over 37.40 metres; 30.66 g/t gold over 3.45 metres, within a wider interval of 5.60 g/t gold over 25.25 metres; and 35.96 g/t gold over 1.73 metres, within a wider interval of 2.01 g/t gold over 66.20 metres. ...
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The SNB's benchmark rate, set at minus 0.75 percent, is the lowest of any central bank in the G10 economies. Yields on 10-year Swiss government bonds have been negative for almost a year.
Some economists have warned that the policy distorts capital allocation in the economy, artificially skewing investors' and consumers' perceptions of risk in subtle but potentially substantial ways. Banks' margins have shrunk dramatically, while cheap credit has begun to inflate asset prices in some parts of the economy. ...
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