Switzerland Selected Issues Paper

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...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
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
Physical Description:9 pages
ISBN:9781475503401