Swiss monetary policy is very dependent on what is happening elsewhere, most importantly at the ECB, but there is a margin of flexibility that can be used, says Ernst Baltensperger, Switzerland's eminent monetary policy expert. Baltensperger is professor emeritus of macroeconomics at the University of Bern, where he was the PhD advisor to SNB President Thomas Jordan, and is the author of a seminal history of the Swiss Franc (Der Schweizer Franken – Eine Erfolgsgeschichte).
