Abbassi, Puriya; Nautz, Dieter; Offermanns, Christian - In: Swiss Journal of Economics and Statistics (SJES) 146 (2010) I, pp. 313-340
The maturity of the operational target of monetary policy is a distinguishing feature of the SNB's operational framework of monetary policy. While most central banks use targets for the overnight rate to signal the policy-intended interest rate level, the SNB announces a target range for the...