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Swiss left helpless in currency wars as franc keeps surging

Friday, April 24, 2015 - 05:50

The SNB reduced the deposit rate on Jan 15, the same day it stopped defending the franc's upper limit of 1.20 to the euro. The cut was intended to mitigate the effects of scrapping the ceiling.


SWITZERLAND is running out of ammunition to fight the global currency wars.

In the three months since the Swiss National Bank scrapped the franc's ceiling against the euro, it's intervened in currency markets, cut interest rates and on Wednesday made more depositors

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