switzerland ends euro minimum exchange rate cuts interest rate
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Switzerland ends euro minimum exchange rate, cuts interest rate

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Arab Today, arab today 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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