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Central bank imposes negative interest rates
thelocal.ch With fresh turmoil in foreign exchange markets putting upward pressure on the franc, the Swiss National Bank announced on Thursday the introduction of negative interest rates. The bank said it was imposing an interest rate of minus 0.25 percent on sight deposit balances at the central bank with the aim of taking the Libor rate — the rate used by banks to borrow money — into negative territory.
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