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Home / Information about / Monetary policy
Monetary policy strategy
Constitutional and legal mandate
Significance of price stability
Appropriate monetary conditions
Taking economic activity into account
Numerous uncertainties
Monetary policy strategy
Definition of price stability
Purpose of inflation forecast
Quarterly publication of inflation forecast
Indicators upon which inflation forecast is based
Communicating through inflation forecast
Review of monetary policy based on inflation forecast
Libor target range
Monetary policy instruments
Monetary policy strategy
The monetary policy strategy in force at the National Bank since 2000 consists of the following three elements: a definition of price stability, a medium-term inflation forecast and – at operational level – a target range for a reference interest rate, the three-month Swiss franc Libor (London Interbank Offered Rate).