Kämpf, Vanessa; Stadtmann, Georg; Zimmermann, Lilli - In: Journal of Central Banking Theory and Practice 13 (2024) 1, pp. 43-55
The Swiss National Bank (SNB) has announced it will refrain from profit distribution in 2022 owing to the accumulation of a huge financial loss. In this paper we examine key determinants of the SNB's loss and shed light on its implications to monetary policy pursuit. In particular, we show that...
