These are exciting times in European central banking. Last Thursday the Swiss National Bank suddenly terminated its successful peg to the euro. This week the European Central Bank is expected to announce its programme of quantitative easing. The SNB has embraced the risk of deflation from which the ECB wishes to escape.
欧洲的中央银行业迎来了激动人心的时刻。上周四瑞士央行(Swiss National Bank)突然取消了瑞士法郎兑欧元汇率上限这一成功的政策。本周欧洲央行(ECB)预计将宣布量化宽松计划。瑞士央行已经接受了欧洲央行希望逃脱的通缩风险。
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