Switzerland: 2004 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Switzerland

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 166

Publication date: June 2004

ISBN: 9781451807219

$20.00

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Topics covered in this book

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Banks and Banking , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , authority , SNB inflation , monetary policy , EU cohesion fund , , ODA share , EU cohesion fund , monetary policy stance , accommodative monetary policy , Inflation , Financial sector , Fiscal stance , Global

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Summary

This 2004 Article IV Consultation highlights that there are signs that the economy of Switzerland has started to grow again on the back of stronger exports and domestic investment and supported by accommodative monetary and fiscal policies. Unemployment has risen, but at 4 percent is low by international standards. Inflation remains negligible and the current account is running a large surplus. Executive Directors have commended the authorities’ sound macroeconomic policies that have placed the Swiss economy in a good position to benefit from the nascent global recovery.