Swiss National Bank, CHF

Last week, the Swiss National Bank released a message to the markets stating that, if necessary, it may implement monetary policy actions at any moment between routine evaluation dates. At its most recent meeting on June 16, the SNB shocked the markets by raising interest rates by 50 basis points (bps), from a record low of -0.75 percent to -0.25 percent. This year's SNB meeting is not scheduled to begin until September 22.