Switzerland ends euro minimum exchange rate, cuts interest rate
Arab Today
The Swiss central bank said Thursday it was ending its three-year bid to artificially hold down the value of the Swiss franc against the euro and said it was slashing interest rates to -0.75 percent.
"The Swiss National Bank is discontinuing the minimum exchange rate of 1.20 francs per euro," the bank said in a statement that immediately sent the franc soaring against Europe's common currency.
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