Swiss National Bank slashes interest rate

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Swiss National Bank slashes interest rate

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12-11-2008, 10:10 PM

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Swiss National Bank slashes interest rate

Switerland’s central bank today cut its rate of interest to 0.5%, the fourth consecutive rate cut in three months, and a four year low. The Swiss National Bank (SNB) also warned that the oncoming recession facing the Swiss economy will be the worst since 1982. Deterioration on global economic markets and in the international finance sector will [...]

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