Swiss National Bank and Swiss Franc’s Role in Global Financial Markets

Henri B. Meier (), John E. Marthinsen (), Pascal A. Gantenbein () and Samuel S. Weber ()
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Henri B. Meier: HBM Sekretariat
John E. Marthinsen: Babson College
Pascal A. Gantenbein: University of Basel

Chapter Chapter 7 in Swiss Finance, 2023, pp 335-409 from Springer

Abstract: Abstract The Swiss National Bank (SNB) is Switzerland’s reliable, conservative, and independent central bank. Its mandate is to ensure price stability with due consideration for the economy’s development. As the nation’s monetary authority, ultimate source of bank liquidity, and lender of last resort, the SNB has kept Switzerland’s inflation low relative to other countries, mitigated systemic financial risks, provided efficient payment services, participated in multilateral global organizations, and compiled useful statistical data. The SNB’s effectiveness, combined with Switzerland’s lack of commercial and financial restrictions, political neutrality, direct democracy, moderate taxes, and fiscally disciplined governments, have appreciated the Swiss franc’s value and made it a haven in times of international turmoil. Digitalization, cryptocurrencies, and central bank digital currencies are challenges the SNB faces.

Keywords: Independence; Price stability; Monetary tools; Too big to fail; Digitalization; CBDCs (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-23194-0_7

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DOI: 10.1007/978-3-031-23194-0_7

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