Switzerland Central Bank Statement

Author: | Published: 19 Oct 2018

The Swiss National Bank (SNB) pursues a monetary policy serving the interest of the country as a whole. Its mandate stipulates that it must ensure price stability, while taking due account of economic developments. The SNB's current monetary policy measures comprise charging a negative interest rate on sight deposits held by banks and other financial market participants at the SNB and the willingness to intervene in foreign exchange markets if necessary. The aim of these measures has been to make investments in Swiss francs less attractive and thus to reduce the pressure on the Swiss franc exchange rate.

We observed a pronounced depreciation of the...