摘要:Along with a number of central banks, the SNB has adopted an up-to-date policy framework which has delivered price stability and moderate growth for nearly a decade. This auspicious period, however, has come to an abrupt end when the Great Crisis has spread around the developed world, hitting the Swiss banking system especially hard. Even though, Switzerland has withered the shock reason- able well. Part of the merit undoubtedly goes to monetary policy.