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SNB Record-Low Rate Cemented as Economy Reels From Currency Blow

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Speaking after the central bank maintained its rate on sight deposits at minus 0.75 percent, Jordan also said that the franc remains overvalued and officials are ready to intervene in currency markets if needed. Switzerland was dealt a shock on Jan. 15 when the central bank abandoned its franc ceiling of 1.20 per euro — sending the currency surging — and increased its charge on sight deposits …

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