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Jordan Revives Swiss Shock Tactics, Joining Rate-Hike Rush

  • SNB unexpectedly raised key rate by 50 basis points to -0.25%
  • Swiss central bank has a long history of policy surprises
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Jordan: SNB Can Use Interventions in ‘Both Directions’
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“Sometimes you have to take tough decisions.”

That was Swiss National Bank President Thomas Jordan’s comment in early 2016 as he looked back on the market mayhem that greeted his decision to scrap his nation’s currency cap.