Baku. 19 January. REPORT.AZ/ Cancellation of upper limit for the Franc by the Swiss National Bank was an unexpected for the Stock Exchange Participants. Because of this decision the powerful revaluation move will set in motion forces that will eventually help to weaken franc and to restore market equilibrium. Report was told by the Chief Financial Officer of Saxo Bank Steen Blaafalk.
We were surprised by the decision of the National Bank of Switzerland. Despite our September forecasts, we did not foresee such a quick actual reduction. However, the expectation of the event has increased significantly in recent months due to the monetary policy of the European Central Bank, geopolitical risks and the lack of political decision, - said S. Blafalk.
According to the CFO, this was the most important step in the main currency of the ever made, in connection with which the markets in the crucial hours there was a lack of liquidity in market in the crucial hours.