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Lagarde said Swiss central bank did not warn IMF

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The head of the IMF on Thursday said she was surprised by the decision of the Swiss Central Bank to scrap its three-year-old cap on the franc, which sent the safe-haven currency soaring against the euro. "This was a bit of a surprise," IMF managing director Christine Lagarde said on CNBC.

[NEW YORK] The head of the IMF on Thursday said she was surprised by the decision of the Swiss Central Bank to scrap its three-year-old cap on the franc, which sent the safe-haven currency soaring against the euro. "This was a bit of a surprise," IMF managing director Christine Lagarde said on CNBC.

"(SNB Chairman Thomas) Jordan did not contact me; I find it a bit surprising that he did not contact me." "I would hope it was communicated with colleagues from other central banks - I don't know that it was," Ms Lagarde added, declining to comment on the decision itself. The SNB's move to scrap its cap of 1.20 francs per euro on Thursday sent stocks plunging amid fears for the export-reliant Swiss economy.

REUTERS

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