The deputy head of Switzerland's central bank will retire next year, after a decade in the job.
The Swiss National Bank's (SNB) vice-chair Fritz Zurbruegg will retire in July, the central bank said in a statement on Monday. The 61-year-old's retirement follows two medical-related absences this year.
The SNB didn't comment on a potential replacement (the Swiss government appoints SNB governors). Zurbruegg's deputy Dewet Moser is also 61 and has been an alternate governor since 2006.
Emergency Absence
For the past six years, Zurbruegg was in charge of implementing the SNB’s monetary policy, which is largely based on stemming the rise of the Swiss currency. Switzerland's interest rates have been in negative territory since 2015, meaning it charges for large Swiss franc deposits.
SNB chief Thomas Jordan in September returned to the job following an emergency heart procedure. He, Zurbruegg, and Andréa Maechler form a the three-person governing board.
