- Why oh why do we trust central banks?
- Central bankers are politicians' puppets
- This is endgame for the central banks
The Swiss National Bank's removal of the franc's peg to the euro last week had far-reaching consequences because we were all taken by surprise. The fact that it would (and should) happen eventually was not lost on the market, but the SNB was as late as last week end talking tough and telling the market that the floor was an integral part of Swiss monetary policy – until it suddenly wasn't any more.