<table><tr><th>From:</th><th>Ehud Barak &lt; &gt;</th></tr><tr><td>Sent:</td><td>Thursday, January 15, 2015 1:56 PM</td></tr><tr><td>To:</td><td>Epstein Jeffrey</td></tr><tr><td>Subject:</td><td>Bloomberg: SNB Unexpectedly Scraps Cap on Franc in Reversal of Key Policy</td></tr></table>

Jeff
I need you to explain t=is to me.
Best
EB
From Bloomberg, Jan=15, 2015, 14:19:26

<http://bloom.bg/156Fbtm> Jan. 15 -- Jane Foley, senior foreign exchange strategist at Rabobank= discusses the surprise move by the Swiss National Bank to end the minimum e=change rate and lower the interest rate to -0.75 percent. She speaks on 40=80*Bloomberg Surveillance."

The Swiss National Bank (=NBN) <http://www.bloomberg.com/quote/SNBN:SW> scrapped its minimum exchange rate today, abandoning a tool policy=makers said just days ago was necessary to ward off deflation.

To re=d the entire article, go to http://bloo=.bg/156lqSw <http://bloom.bg/156lqSw>

Sent from the Bloomberg iPhone application. Download=the free application at http://itunes.apple.com/us/app/bloomberg/id281941097?mt=3D8 <http://itunes.apple.com/us/app/bloomberg= id281941097?mt=8>

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