Switzerland: Selected Issues Paper

May 8, 2012

Preview Citation

Format: Chicago

Switzerland: Selected Issues Paper, (USA: International Monetary Fund, 2012) accessed November 21, 2024

Summary

This Selected Issues Paper on Switzerland focuses on unprecedented currency appreciation and policy response. On September 6, 2011, the Swiss National Bank (SNB) surprised the market by explicitly committing to defending a floor of 1.20 on the exchange rate of EUR/CHF. The introduction of the floor was appropriate in light of the growth and deflationary risks and limited alternative policy options. From a global perspective, the SNB move may spark emulation by other countries experiencing appreciation pressures, but the specific circumstances of Switzerland may not be present elsewhere.

Subject: Currencies, Exchange rates, Financial statements, Foreign exchange, Monetary expansion, Monetary policy, Money, Public financial management (PFM)

Keywords: Appreciation, CR, Currencies, Euro, Exchange rates, Financial statements, Franc, Global, ISCR, Monetary expansion, Policy response, SNB balance sheet, SNB bill, SNB move, Term structure

Publication Details

Pages:

9
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2012/107
Stock No:

1CHEEA2012002
ISBN:

9781475503401
ISSN:

1934-7685

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