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Money policy – Swiss banknotes – Negative interest remain indispensable News

Thursday, August 31st, 2017 | Economy

The recent weakening of the Swiss franc against the euro is positive, but the situation remains fragile, said SNB's board member Andrea Maechler on Thursday at an event in Yverdon-Les-Bains. "Overall, the trends for the franc point in the right direction," said the monetary guardian. "But it is too early to say whether these trends are sustainable." The SNB's expansive monetary policy is still necessary. "Negative interest rates are currently an indispensable tool for Switzerland."
Since the departure from the Euro linkage of the Swiss franc at the beginning of 2015, the SNB has been struggling with negative interest rates and foreign exchange market interventions against a revaluation of the national currency which is threatening the export-oriented industry of the country. Current costs a euro 1.1450 francs.
(Reuters)

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