Moneyverse: Me, suddenly head of the central bank | THE TIME

From the series:
Everything except Zurich

An exhibition about negative interest rates and foreign reserves? That sounds terribly dry, but it’s not. Especially not in the land of money.

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Article summary

The Swiss National Bank opens the Moneyverse, a visitor center that explains the complex world of money in an exciting way. From the global history of money to the meaning of values - here money is brought to life. But in the basement it becomes clear: the SNB’s work is complicated and technical. Nevertheless, the head of the central bank must decide whether to lower or increase the key interest rate in order to stabilize the economy. A zigzag course leads to confusion – the message: In the Moneyverse, the secret of the SNB is revealed, but the decisions are left to the experts.

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I’m standing in the basement of a house near Bern’s Bundesplatz and looking at a cockpit made of screens, pointers and scales. They show data about unemployment or inflation. And I, the director of the Swiss National Bank (SNB), am supposed to maneuver my country through the crisis: a volcanic eruption has damaged submarine cables between Europe and North America, supply chains are collapsing, and financial markets are coming under pressure. People are watching the rising prices, fearing for their jobs and storming the shops. In short: there is a risk of a crash. To avert it, I only have one lever: the key interest rate. But what should I do – increase it, lower it or wait?