by 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
Topics:
Swissinfo considers the following as important: 1) SNB and CHF, 3.) Swissinfo Business and Economy, Business, Featured, newsletter
This could be interesting, too:
RIA Team writes The Benefits of Starting Retirement Planning Early in Your Career
Swissinfo writes Swiss residential real estate to remain in demand in 2025
Thomas J. DiLorenzo writes Stakeholder Capitalism and the Corporate KPI Cult
Swissinfo writes Parliament stalemate on abolishing Swiss homeowner tax
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”.
You Might Also Like
Swiss to decide individually on Russian commodity deals
2022-04-20
Switzerland will decide case by case whether to curtail traders’ purchases from Russia’s state-controlled companies under European Union sanctions. The State Secretariat for Economic Affairs (SECO) which is in charge sanctions confirmed the Swiss policy to follow in principle the EU measures, which aim to limit commodity deals to those deemed “strictly necessary” from mid-May.
Swiss web TV channel to broadcast in Ukrainian
2022-03-28
Diaspora TV Switzerland launched a new service in Ukrainian on Sunday to help meet the information needs of refugees arriving from the war-torn country.
After pandemic slump, Swiss exports boomed in 2021
2022-01-28
Swiss exports climbed to record levels in 2021, with chemicals and pharma driving much of the growth. Watches, especially luxury ones, also had a good year.
Swiss cantons mull lower taxes for wealthy executives
2022-01-17
Swiss Finance Minister Ueli Maurer has hinted that cantons might lower income taxes for well-heeled executives as the country braces for the impact of a minimum corporate tax rate.
Swiss central bank forecasts CHF26bn annual profit
2022-01-11
The Swiss National Bank (SNB) expects to post a profit of CHF26 billion ($28 billion) for 2021, a windfall made exclusively from its growing foreign currency holdings.
Swiss tourists stayed close to home in 2020
2021-12-10
New data on Swiss travel habits during the first year of the Covid-19 pandemic show fewer overnight stays, less air travel and a collapse in trips beyond the borders of Europe.
Supply chain bottlenecks and Omicron hamper Swiss economic recovery
2021-12-09
Swiss economic experts expect a significant economic slowdown as supply chain bottlenecks, inflation and pandemic restrictions persist in many parts of the world.
How the pandemic has widened inequalities in Swiss watchmaking
2021-11-21
Driven by strong Chinese demand, Swiss watchmaking is recovering after suffering one of its biggest economic shocks in 2020. But the crisis has further widened the gap between the few brands that take the lion’s share of the profits and the rest of the industry.
Tags: Business,Featured,newsletter