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The Swiss National Bank (SNB) Vice President Jean-Pierre Danthine said on Tuesday that negative interest rates will help weaken the strong Swiss franc. He added that this measure is only temporary.
The SNB has implemented negative interest rates as it removed the 1.20 per euro exchange rate floor.
Danthine defended this decision and noted that it was necessary to avoid an uncontrolled expansion of the central bank's balance sheet.
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