Q&A: SNB's Danthine on the Swiss franc and market risk
A surprise for traders and investors, perhaps, but no black swan – this is how Jean-Pierre Danthine, vice-chair of the Swiss National Bank, views the decision to end the franc’s minimum exchange rate
The announcement was made early on the morning of January 15 without warning – the Swiss National Bank (SNB) would end its three-and-a-half-year fight to hold down the value of the franc.
Behind the scenes, the decision had been a careful one, says Jean-Pierre Danthine, vice-chairman of the SNB's governing board. The central bank took the view that with European and US monetary policy diverging, and the European Central Bank set to launch a programme of quantitative easing, defending the 1.20
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