The fact that the successor to Fritz Zurbrügg as Vice-Chair of the SNB’s Governing Board, Martin Schlegel, is an SNB stalwart means the looming changes at the top are unlikely to change the decision-making dynamics at the Bank. But whereas Mr Zurbrügg will most probably sign off without having raised interest rates during his ten-year term, Mr Schlegel looks set to quickly get a few rate hikes under his belt.
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