Swiss Franc U-Turn Is A Realistic Move As SNB Cannot Stop The Tide — forbes.com

The Swiss central bank spooked the currency market and stock markets by its sudden decision to remove a cap on the Swiss franc, but in the end the bank did nothing more than acknowledging  the obvious. It could have continued throwing money at buying up the euro to hold on to a line in the sand of the foreign exchange seas, but the tide was rising and the line would disappear anyway. It could have pushed its short-term interest rates further into negative territory but that would have been a bit too unrealistic for the clear-headed bankers – interest rates ought to be positive because of a price for the time in the future.

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