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Swiss National Bank imposes interest rate of minus 0.25% on deposits

Swiss National Bank imposes interest rate of minus 0.25% on deposits

ZURICH: 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 minus-0.25 percent on bank deposits, with the aim of pushing the target range of a benchmark rate into negative territory.