SNB negative rates to take effect on ECB day
SNB implements negative deposit rates six months after ECB
The Swiss National Bank (SNB) will implement negative interest rates on January 22, the same day as the European Central Bank's (ECB) first rate-setting meeting of 2015, at which market participants expect it to launch its first quantitative easing (QE) programme.
The SNB's decision to introduce a -0.25% rate on sight deposits comes some six months after the ECB implemented negative deposit rates for banks. The shift towards a more accommodative stance from the ECB has been pressuring the euro
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