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An Analysis of Deposit and Credit Markets

In: Swiss Banking in an International Context

Author

Listed:
  • W. Blackman

    (The University of Calgary)

Abstract

In Chapter 5, the relationship between the Swiss monetary base, foreign exchange, and, finally, the money supply of that country, was identified. In the Swiss case, control of the money supply was made possible with the end of the era of the fixed exchange rate, thereafter making it unnecessary for the National Bank to purchase foreign exchange. The monetary base could, therefore, be exactly what the National Bank wished — just sufficient to restrict the money supply, M1. This finally brought down the rates of monetary expansion and the rate of inflation which hitherto had been imported as a result of the necessity to maintain the value of the franc.

Suggested Citation

  • W. Blackman, 1989. "An Analysis of Deposit and Credit Markets," Palgrave Macmillan Books, in: Swiss Banking in an International Context, chapter 6, pages 127-151, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-10656-1_6
    DOI: 10.1007/978-1-349-10656-1_6
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