The Federal Council has ruled out a stimulus package for the time being, a position it confirmed when the subject was discussed on 15 April 2015.
The exchange rate cap introduced by the SNB was an important and valuable instrument designed to give Swiss businesses a degree of planning certainty, but one which was only ever intended to be of limited duration. The Federal Council has confidence in the ability of the Swiss National Bank to safeguard price stability while taking economic developments into account.
Steps taken since 15 January:
- First situation analysis by Federal Council on 21 January. EAER tasked jointly with FDF to report on a regular basis.
- Since 27 January businesses have been able to apply for short-time working.
- First round table with social partners at end of January.
- First round table with business circles on 19 February – discussion on list with ten urgent fields of action.
- Publication of spring forecasts by the federal government’s group of experts.
- Second round table with business circles on 8 June – business and association representatives expect the situation to deteriorate.