Tuesday, September 6, 2011

Foreign Exchange, Defending the Franc: Swiss National Bank "“prepared to buy foreign currency in unlimited quantities…”"

Holy crap.
Central Bankers don't talk like that.
FT Alphaville has the story, newest to oldest:
Swiss real estate will become the new gold
SNB euroquake, the analysts react – part two
SNB euroquake, the analyst reaction – part one
The SNB has come out all guns blazing on Tuesday in a bid to weaken the Swiss franc.
And it’s the use of some key expressions that really stands out. Among them, “acute threat”, “no longer tolerate”
The clairvoyant Jim O’Neill
A Swiss “sigma” event
The Swiss National Bank is pegging it

Holy crap.