SNB with lower interest rate and ends minimum exchange rate

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Surprisingly the Swiss National Bank scrapped the 1.20 cap on the euro and lowered it’s interest rate by 0.5 percentage points, to 0.75 percent.

“The Swiss National Bank (SNB) is discontinuing the minimum exchange rate of CHF 1.20 per euro”, the central bank stated today.

Image Source: http://econbrowser.com/

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