DUBLIN (Reuters) - The head of the IMF said she hoped the “erratic” situation brought about by the Swiss Central Bank’s decision to scrap its three-year-old cap would stabilise shortly, adding that very few people were informed of the move ahead of time.
“My understanding was that very, very, very few people were informed of anything,” said IMF Managing Director Christine Lagarde. Last week she said she had been surprised by the decision, which sent the safe-haven currency soaring against the euro.
“I fully understand why this has taken place. There are very good rationales,” Lagarde said. We hope that the situation will stabilise and that this very erratic volatility movement will be long forgotten.”
Reporting by Padraic Halpin and Conor Humphries; Editing by Kevin Liffey
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