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Swiss National Bank to adopt negative interest rate

Move is to hold down value of Swiss franc amid turmoil in global currency markets
Saturday, December 20, 2014 - 05:50
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FIRM STEP: The bank would begin charging banks 0.25% interest on bank deposits exceeding a certain threshold, effective on Jan 22.

Paris

SWITZERLAND is introducing a negative interest rate on deposits held by lenders at its central bank, moving to hold down the value of the Swiss franc amid turmoil in global currency markets and expectations that deflation is at hand.

The Swiss National Bank said in a

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