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Stashed cash doesn't affect Swiss monetary policy - SNB

BERN, June 23 (Reuters) - Billions in cash stashed away at home by people in Switzerland has no influence on the Swiss National Bank’s monetary policy, alternate governing board member Dewet Moser said on Wednesday. This money “does not affect the monetary policy, the use of interest rates or our readiness to intervene in the currency markets”, Moser said at event to unveil the SNB’s latest study on payment methods in Switzerland.

Some 12% of all Swiss banknotes in circulation are kept by people at home as stores of value, according to the study. (Reporting by John Revill; Editing by Michael Shields)

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