SNB

Swiss National Bank introduces negative interest rates

Taking a leaf out of Mario Draghi’s book when the ECB reduced their Deposit Facility Rate to negative 0.10% on 5th June 2014, the Swiss National Bank has just done the same on sight deposit account balances, with a rather aggressive negative 0.25%. ” Negative interest is charged on sight deposit account balances (cf. art. 2.1.1, Terms of Business) … Continue reading →