Swiss central bank introduces negative interest rate

December 18, 2014
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Under pressure Swiss banks eye Chinese wealth/AFP
Under pressure Swiss banks eye Chinese wealth/AFP

, Switzerland’s central bank on Thursday announced it was introducing negative interest rates, in a bid to stop the Swiss franc — a safe haven currency — from gaining further value.

The Swiss National Bank is imposing an interest rate of -0.25 percent on bank deposits, with the aim of pushing the target range of a benchmark rate into negative territory.

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