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Switzerland Wants Negative Interest Rate

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To prevent deflation.

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Fabrice Coffrini/AFP/Getty

The central bank in Switzerland has decided that beginning January 22, it will introduce a negative interest rate on deposits held by lenders. It will charge 0.25 percent interest on bank deposits in the central bank exceeding certain amounts. The move is to hold down the value of the Swiss franc as an economic crisis in Russia and dropping oil prices have caused fluctuations in currency markets.

Read it at The New York Times