What the ECB Has to Do to “Prevent a Market Meltdown”: French Megabank

There was one central bank that did the opposite of what financial markets expected it to do, and it stirred up a mushroom cloud of anger: the Swiss National Bank removed the cap on the Swiss franc without warning. The franc soared, and the popular trade at the time – shorting the franc – blew up spectacularly. And Swiss stocks dove. But the ECB is not so inclined, explains the ever helpful investment bank Natixis, subsidiary of the second largest megabank in France. It would be hilarious if it weren’t so serious.

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