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Friday, 23 January 2015

President and finance minister to discuss Swiss Franc next week


The president and the finance minister will meet next week to discuss the Swiss central bank's recent decision to free the Swiss franc exchange rate, presidential officials informed Friday.
Asked if President Bronislaw Komorowski planned to help Polish Swiss franc loantakers, who must pay much higher rates on their loans in effect of the Swiss decision, presidential aide Olgierd Dziekonski said the situation of franc loantakers "lay within the president's interest scope".
Dziekonski added that the franc rate was currently "very fluid" and Europe "was awaiting its final position against other European currencies, especially the euro".
On Tuesday Poland's Financial Stability Committee (KSF) said the freeing of the franc did not threaten Poland's financial stability.
Last Thursday the Swiss central bank (SNB) announced it was freeing the Swiss franc's exchange rate against the euro and cut interest to -0.75 percent. The decision caused panic on financial markets. According to statistics, about 550,000 Poles have taken out Swiss franc loans. (PAP)



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