Abstract
AbstractThe 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.
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