Cover IMF Staff Country Reports
Switzerland: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2009: Issue 164
Language:
English
Publication Date:
26 May 2009
DOI:
https://doi.org/10.5089/9781451807417.002
ISBN:
9781451807417
ISSN:
1934-7685
Pages:
61
Keywords:
ISCR; CR; Switzerland; introduced SNB bill; repo transaction; asset; SNB balance sheet; monetary policy stance; IMF staff projection; headline inflation; Financial sector; Income; Insurance companies; Insurance; Global; Asia and Pacific
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Switzerland is affected by the global crisis through the stock effect, the flow effect, and the trade effect. Along with a sharp contraction in exports, investments are now being postponed. Consumption has held up well so far, but as unemployment rises, household spending will lose momentum. The Swiss National Bank has appropriately loosened monetary policy, bringing the policy rates almost to zero. Maintaining financial stability will be essential for ensuring macroeconomic stability and growth in Switzerland.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2009: Issue 164