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Speech given by SNB Chairman Thomas J. Jordan
Also from a monetary policy perspective, the Swiss National Bank (SNB) has experienced another difficult year. In 2011, the escalation of the European sovereign debt crisis triggered a very substantial appreciation of the Swiss franc. In order to avert major damage to the Swiss economy, and work against the threat of a deflationary trend, the SNB had to react fast with exceptional measures. I would like to begin by giving you a review of economic developments and monetary policy in 2011. Then I will present our assessment of the international economic outlook and its impact on the Swiss economy. I will also outline ... (full story)
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