One really wonders what they were expecting when they pulled the 1.20 floor. One can only hope that they had researched positioning and found that the load of lazy longs and barriers etc that existed 18 months ago had been bored out of existence.
If not, then someone's going out of business today.
One really has to wonder if they thought a slightly more negative deposit rate would offset the shock value of pulling the
Regardless of how oddly this was handled, it should serve as a reminder that unconventional policies will not persist forever.....