The Swiss National Bank (SNB) is very opaque by international standards. That has to change, says Yvan Lengwiler, professor of economics at the University of Basel. He explains his proposals in the latest Geldcast update.
“There is no right to secrecy,” says Yvan Lengwiler – not even at the Swiss National Bank. He has joined forces with Stefan Gerlach of the EFG Bank and Charles Wyplosz, a professor at the Graduate Institute in Geneva, to form the “SNB Observatory”.
Lengwiler and his fellow campaigners are now demanding more openness from the SNB. Currently no one knows how the SNB’s top management makes its decisions, says Lengwiler. For the central bank to fulfill its accountability, a certain degree of transparency is needed.
In addition, Lengwiler and his fellow experts want to increase the size of the SNB’s governing body. It is one of the smallest compared to other central banks. To do this, however, the National Bank Act would need to be amended, which entails certain risks, according to Lengwiler.
To find out more about these risks and how the SNB Observatory wants to reform the Swiss National Bank, check out the latest Geldcast update.
From stock exchanges and bitcoin to inflation and monetary policy – the Geldcast update features the latest from the world of international finance. Clear and entertaining for everyone who wants to stay up to date. The podcast is hosted by monetary economist and business journalist Fabio CanetgExternal link.
The SWI swissinfo.ch Geldcast
Author Fabio Canetg completed his doctorate in monetary policy at the University of Bern and the Toulouse School of Economics. Today he is a lecturer at the University of Bern.
As a journalist, he works for SRF Arena, Republik Magazin and SWI swissinfo.ch. He hosts the monetary policy podcast “Geldcast”.
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