An Analysis of Deposit and Credit Markets

W. Blackman
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W. Blackman: The University of Calgary

Chapter 6 in Swiss Banking in an International Context, 1989, pp 127-151 from Palgrave Macmillan

Abstract: Abstract In Chapter 5, the relationship between the Swiss monetary base, foreign exchange, and, finally, the money supply of that country, was identified. In the Swiss case, control of the money supply was made possible with the end of the era of the fixed exchange rate, thereafter making it unnecessary for the National Bank to purchase foreign exchange. The monetary base could, therefore, be exactly what the National Bank wished — just sufficient to restrict the money supply, M1. This finally brought down the rates of monetary expansion and the rate of inflation which hitherto had been imported as a result of the necessity to maintain the value of the franc.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Foreign Exchange; Money Supply (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-10656-1_6

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DOI: 10.1007/978-1-349-10656-1_6

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