IMF’s Lagarde: Swiss Move ‘a bit of a surprise’

International Monetary Fund chief Christine Lagarde said Thursday the Swiss central bank’s announcement that it would remove a 3-year-old cap of 1.20 francs per euro was “a bit of a surprise.”

The IMF managing director, who spoke with CNBC from the organization’s headquarters in Washington, said she had not been warned about the move ahead of time, which she found “a bit surprising.”

Still, she said it was possible that Thomas Jordan, chairman of the Swiss National Bank’s governing board, may have reached out to someone else at the IMF.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.