Shock Swiss rate hike sets markets on edge; BOJ holds

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Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – World stocks on Friday headed for their worst week since markets’ pandemic meltdown in March 2020, as investors worried about growth in the face of global rate hikes – except in Japan where policy settings were kept easy and the yen fell. The Bank of Japan stuck with its strategy of pinning 10-year yields near zero at its policy meeting, in stark contrast to the rest of the world. Even the Swiss National Bank shocked investors overnight with its first rate hike in 15 years. The yen was last down 1% to 133.75 per dollar in volatile trade after the BOJ deci…

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