ECB: A new blow of the Swiss franc on the foreign exchange market could be followed as early as Thursday, January 22, when the governors of the European Central Bank will meet, to decide whether and to what extent the ECB will launch the program of the injection of money into the financial system of the eurozone
The Swiss franc soared as much as 30% in chaotic trade after the central bank abandoned the cap on the currency’s value against the euro. The Swiss National Bank (SNB) said the cap, introduced in September 2011, was no longer justified. It also cut a key interest rate from -0.25% to -0.75%, raising the amount investors pay to hold Swiss deposits.
Asian shares decline as surpise Swiss central bank move rattles FX