Switzerland : 2014 Article IV consultation, staff report, press release, and statement by the Executive Director for Switzerland.

Switzerland : 2014 Article IV consultation, staff report, press release, and statement by the Executive Director for Switzerland.

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Bibliographic Details
Imprint:	Washington, D.C. : International Monetary Fund, ©2014.
Description:	1 online resource (53 pages) : color illustrations.
Language:	English
Series:	IMF country report ; no. 14/142 IMF country report ; no. 14/142.
Subject:	International Monetary Fund -- Switzerland. International Monetary Fund. Economic development -- Switzerland. Housing -- Switzerland. Monetary policy -- Switzerland. Financial institutions -- Switzerland. Economic indicators -- Switzerland. Economic development. Economic indicators. Financial institutions. Housing. Monetary policy. Switzerland. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12502927

Hidden Bibliographic Details
Varying Form of Title:	Title from p. 2 of pdf: Switzerland, staff report for the 2014 Article IV consultation
Other authors / contributors:	International Monetary Fund.
ISBN:	9781498312967 1498312969 9781498362238 1498362230
Notes:	"May 2014." "April 15, 2014"--Page 2 of pdf. Online resource; title from pdf title page (IMF Web site, viewed June 10, 2014).
Summary:	"The Swiss economy has regained momentum, but inflation remains close to zero. There has been no new foreign exchange intervention, but past safe haven inflows have not yet reversed despite improved market confidence toward the euro area and tapering in the United States. Notwithstanding policy action, risks in the mortgage market remain elevated. The large systemic banks have continued to strengthen capital and restructure their business models, but the financial sector reform agenda is still incomplete. Exchange Rate Policy: The exchange rate floor remains a necessary element of the monetary policy framework, as inflation is still close to the bottom of the range compatible with the Swiss National Bank's (SNB) definition of price stability and renewed exchange rate appreciation, as might arise from a new bout of safe haven inflows, would quickly bring back deflationary pressures. The Mortgage Market: With monetary conditions remaining accommodative and housing prices growing faster than incomes, measures to curb mortgage demand especially from the more vulnerable households need to be strengthened. The Banking Sector: Cooperation agreements with key foreign supervisors need to be reached to make the large banks resolvable. More resources are required for prudential bank supervision, and closer oversight and guidance to auditors performing supervisory audits are necessary. Deposit insurance should be brought in line with emerging international best practices"--Abstract.
Other form:	Print version: Switzerland : 2014 article iv consultation-staff report; press release; and statement by the executive director for Switzerland. Washington, District of Columbia : International Monetary Fund, ©2014 approximately 54 pages IMF country report ; Number 14/142 9781498312967

Description
Summary:	This 2014 Article IV Consultation outlines that the growth of the Swiss economy has gathered pace, but inflation remains close to zero. The recovery is expected to continue and inflation should rise gradually although the output gap will progressively close. The fiscal position is healthy, with a broadly neutral stance projected for 2014. Despite improved market confidence toward the euro area and tapering in the United States, the exchange rate has remained close to the floor. The authorities have taken several measures to contain risks, including raising the countercyclical capital buffer and adopting prudential measures to tighten lending standards and conditions.
Item Description:	"May 2014." "April 15, 2014"--Page 2 of pdf.
Physical Description:	1 online resource (53 pages) : color illustrations.
ISBN:	9781498312967 1498312969 9781498362238 1498362230