Diabytes
Swiss currency News
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The Swiss central bank sought on Monday to allay fears among citizens that bank notes could eventually be phased out as a result of global money-laundering rules or the rise of alternative payment systems.
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The Swiss National Bank (SNB) spent 25.8 billion Swiss francs ($26.91 billion) defending the currency late last year before abandoning its peg as too costly for the country`s economy, it said on Thursday.
Switzerland`s central bank held its key lending rate on Thursday but revised downwards its forecast for prices, warning that "deflation risks have increased once again".
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