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Swiss National Bank
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.

SNB News

WP – 2024-02-05 – Matthias Burgert, Johannes Eugster and Victoria Otten: The interest rate sensitivity of house prices: international evidence on its state dependence

Keywords House prices, Interest rates, Local projection, Smooth transition function This paper investigates how house prices have historically responded to interest rates and how their reaction has depended on preexisting conditions. We identify exogenous variations in short-term interest rates for 29 OECD countries relying on international spillovers from US monetary policy. Our...

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Mediengespräch – Conférence de presse – News conference – Conferenza stampa, 14.12.2023

Mediengespräch - Conférence de presse - News conference - Conferenza stampa, 14.12.2023 00:00 Einleitende Bemerkungen von Thomas Jordan, Präsident des Direktoriums der Schweizerischen Nationalbank - Remarques introductives de Thomas Jordan, président de la Direction générale de la Banque nationale suisse - Introductory remarks by Thomas Jordan, Chairman of the Governing Board of the Swiss National Bank - Osservazioni introduttive di Thomas Jordan,...

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