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Press Review: Swiss franc hits two-year low as SNB cuts rates to negative
Swiss franc hits two-year low as SNB cuts rates to negative
(Reuters) - The Swiss franc hit its lowest against the dollar in more than two years, and touched a two-month trough against the euro, on Thursday after the Swiss National Bank said it would introduce negative interest rates.
In a brief statement, the SNB said it would impose an interest rate of -0.25 percent on sight deposit account balances of over 10 million Swiss francs as it seeks to discourage safe-haven buying of francs.
PBOC Offers Loans to Banks as Money Rate Jumps Most in 11 Months
China's central bank offered short-term loans to commercial lenders as the benchmark money-market rate jumped the most in 11 months.
Greece Fails to Gather Support to Elect New President
Greece moved a step closer to early elections after Prime Minister Antonis Samaras failed to gather enough support for his nominee in a parliamentary vote for a new head of state.
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