Charles Wyplosz, 19 January 2015

Ending the Swiss franc-euro peg created market turmoil and much vitriol among pundits. This column argues the that SNB could and should have waited – riding along with the euro’s depreciation until Swiss deflation disappeared, but the decision to end the one-sided peg was not a mistake. The peg was always meant as a temporary measure that had to be lifted one day.

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