Image by © Dreamstime
by Frank Hollenbeck
The Swiss gold initiative has come and gone. It can be summarized as much ado about nothing. Even if it had passed, the initiative would have had no real impact on the central bank’s ability to print money or conduct monetary policy.
The central bank is currently defending a 1.2 Swiss-francs-to-the-euro floor. By pegging its currency, the Swiss central bank has basically opted to follow its neighbor’s excessively easy monetary policy. To keep the peg, the Swiss central bank has been purchasing euros by printing Swiss francs.
Continue reading…
The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
We are glad you do! Please consider donating if you want to read more articles like this one.
Comment
|
December 3rd, 2014
Post Mortem on the Swiss Gold Initiative
Image by © Dreamstime
by Frank Hollenbeck
The Swiss gold initiative has come and gone. It can be summarized as much ado about nothing. Even if it had passed, the initiative would have had no real impact on the central bank’s ability to print money or conduct monetary policy.
The central bank is currently defending a 1.2 Swiss-francs-to-the-euro floor. By pegging its currency, the Swiss central bank has basically opted to follow its neighbor’s excessively easy monetary policy. To keep the peg, the Swiss central bank has been purchasing euros by printing Swiss francs.
Continue reading…
The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
Do you like the article?
We are glad you do! Please consider donating if you want to read more articles like this one.
Warning: Undefined array key "visual_appearance" in /austriancenter.com/subdomains/www/html/wp-content/plugins/give/src/Views/Form/Templates/Classic/Classic.php on line 203
Related
Comment
The Hanseatic League: An “Empire” of Commerce
January 10th, 2018
Comment
Elite Public High Schools Should Remain Elite
June 26th, 2014
Comment
Attacking Civilians in War
November 7th, 2017
Comment
Wir brauchen die Kreativität der Jugend!
June 4th, 2014
Comment
African Governments Should Learn from Street Traders
September 30th, 2015
Sendinblue Newsletter