SNB's Zanetti: Negative Interest Rates Are an Option

SNB's Zanetti: Negative interest rates are an option

Comments from the SNB policymaker

Swiss Sight Deposits Soar After SNB Introduced Zero Rate Regime

Sight deposits at the Swiss National Bank rose sharply after its reduction of borrowing costs to zero, as foreign banks moved cash to the institution to escape negative interest paid in the money market.

SNB's Zanetti says negative rates on the table if needed - Action Forex

SNB board member Atillio Zanetti signaled that policymakers are not ruling out a return to negative interest rates if economic conditions warrant it. “It’s not an obvious step to go into negative rates,” Zanetti said, acknowledging the unconventional nature of such a move, “but I wouldn’t say that we don’t want to do that if […] The post SNB’s Zanetti says negative rates on the table if needed appeared first on Action Forex.

Swiss National Bank Sight Deposits Rise Amid Zero Rate Policy

Bloomberg reported on June 30 that the Swiss National Bank experienced a sharp rise in sight deposits. Following its decision to slash borrowing costs to zero on June 19. This change led foreign banks to move significant funds into the SNB to avoid negative interest rate charges. Total deposits rose by 18 billion Swiss francs ($23 billion) in just one week. Foreign institutions added 22 billion francs, while domestic banks pulled back 4 billion …