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DOW Futures Plunge More Than 2% After Swiss National Bank Unexpectedly Hikes Rates by Half a Point
The central bank increased its policy rate to -0.25% from the -0.75% level it has deployed since 2015. The hike was the first increase by the SNB since September 2007. On Thursday, the Swiss National Bank hiked its policy interest rate for the first time in 15 years, joining other central banks in quantitative tightening […]
Ruble Hits Multi-Year High Against Both the US Dollar & Euro Despite Sanctions
This past week, the Russian ruble hit a new multi-year high versus the US dollar and the euro, despite US sanctions. The Rubel continues to gain ground even as Russia’s central bank loosened capital controls imposed in March in response to Western sanctions. There are several reasons for the surge– Russian regulators eased rules for […]