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The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

Articles by SwissNationalBank

Swiss National Bank commits to FX Global Code and supports establishment of foreign exchange committee

9 days ago

The Swiss National Bank (SNB) has signed a Statement of Commitment to the FX Global Code (“Code”), thereby demonstrating that its internal processes are consistent with the principles of the Code. It also expects its regular counterparties to adhere to the Code and comply with the agreed rules of conduct.
Published on 25 May 2017, the Code outlines principles of good practice developed by central banks and market participants from the main foreign exchange trading centres between 2015 and 2017.
Furthermore, the SNB supports the establishment of a foreign exchange committee in Switzerland. The Swiss Foreign Exchange Committee is intended to be a forum between banks and other foreign exchange market participants in

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SNB Statement on the outcome of the popular vote of 10 June 2018

11 days ago

The Swiss National Bank (SNB) has acknowledged the outcome of the popular vote on the sovereign money initiative. The SNB has a constitutional and statutory mandate to pursue a monetary policy serving the interests of the country as a whole. It is charged with ensuring price stability while taking due account of economic developments. The adoption of the sovereign money initiative would have made it considerably more difficult for the SNB to fulfil this mandate. With conditions now remaining unchanged, the SNB will be able to maintain its monetary policy focus on ensuring price stability, which makes an important contribution to our country’s prosperity.
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Results of the 2017 survey on payment methods

22 days ago

In the autumn of 2017, the Swiss National Bank (SNB) conducted a survey on payment methods for the first time. The aim of the survey is to obtain representative information on payment behaviour and the use of cash by house holds in Switzerland, and to ascertain the underlying motives for this behaviour.
As part of the survey, around 2,000 people resident in Switzerland were interviewed to obtain information on their payment behaviour generally and their use of cash in particular. Following the interview, respondents recorded all the payments made by them over seven consecutive days in a payments diary, specifying the amount, place and method of payment. Recurring payments – such as rental expenses and insurance

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2018-05-30 – Speech – Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank: Innovation and entrepreneurship: Key success factors in a changing business environment

23 days ago

Innovation and entrepreneurship: Key success factors in a changing business environment
Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank

Award ceremony 2018, De Vigier Foundation, Solothurn, 30.05.2018

Complete text in German: "Innovation und Unternehmertum: Erfolgsfaktoren in einer Wirtschaftswelt im Wandel"

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For many decades, Switzerland has been among the world’s most successful economies. If it is to maintain this position in future, openness to new technology will be essential. In addition to taking over technologies created

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2018-05-03 – Speech – Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank: Why sovereign money would hurt Switzerland

May 3, 2018

Why sovereign money would hurt Switzerland
Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank

Swiss Institute of Banking and Finance at the University of St. Gallen (s/bf-HSG), Zurich, 03.05.2018

Complete text

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The Swiss sovereign money initiative launched in the light of the experience drawn from the last financial crisis is to be put to the popular vote on 10 June 2018. The initiative raises unrealistic expectations, and adoption by the people and the cantons would have serious consequences for Switzerland, while also making it

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