Swiss Central Bank at Crossroads as Longtime President Nears Exit

Switzerland has an opportunity to reform its central bank with the impending exit of long-term president Thomas Jordan, but lawmakers show little appetite for change.

The Swiss National Bank has accomplished price stability goals but faced criticism over issues like negative interest rates, lack of transparency, and discrimination against women.

The SNB defends its independence and governance, citing successful inflation control and ability to handle economic shocks like the 2015 removal of the franc cap.

Critics call for reforms like publishing policy minutes, revisiting monetary policy process, promoting women, and more periodic reviews.

Major changes are unlikely given Switzerland's preference for the status quo and the SNB's track record, but the new president selection offers some possibility.