This was reflected in the accumulation of foreign reserves by the Swiss central bank, which amount to more than 80 per cent of GDP now. To put that in context for an Australian audience, if the RBA accumulated a similar amount of reserves, they would amount to over $ trillion!
BIS central bankers’ speeches  5  policy settings we see at the moment might be good for the global economy as a whole, they may not be beneficial for every country. This can leave the countries that are receiving these inflows with a difficult choice. They can decide to offset the effects of the higher exchange rate with expansionary policy too.