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Montevideo, December 7th 2023 - 07:51 UTC



In a surprise move Swiss central bank abandons Euro peg: frank soars 30%

Friday, January 16th 2015 - 06:15 UTC
Full article 2 comments

The Swiss franc soared as much as 30% in chaotic trade after the central bank abandoned the cap on the currency's value against the Euro. The Swiss National Bank (SNB) said the cap, introduced in September 2011, was no longer justified. It also cut a key interest rate from -0.25% to -0.75%, raising the amount investors pay to hold Swiss deposits. Read full article


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  • Klingon

    Damm, That guy needs a serious eyebrow wax!!

    Jan 16th, 2015 - 07:58 pm - Link - Report abuse 0

    Ultimately, I believe this will turn out to be a smart move in Switzerland's favour.

    Jan 19th, 2015 - 06:30 am - Link - Report abuse 0

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