Ernst Baltensperger, a former advisor to the Swiss National Bank, told the weekly Swiss newspaper Neue Zuercher Zeitung am Sonntag that the bank should consider changes to the currency cap:
Said the cap was conceived 3 years ago as a temporary emergency measure and it should be adjusted:
- He suggested that “One could replace the current cap with one for a basket of currencies, for example made up of half euro and half U.S. dollar”
- This would allow the Swiss franc to appreciate against the euro, but only as much as the dollar appreciated against the franc, said Baltensperger
- “This would enable an easing of a solely euro-focused monetary policy, without making the franc overly attractive internationally”
