Switzerland: 2009 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland

International Monetary Fund

No 2009/164, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 61
Date: 2009-05-26
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