Normally, those who borrow must pay out more money than they are lent in the form of interest and repayments. Currently, for the Swiss government it is the other way around. Lenders are paying the Swiss federal government to give it money. On 14 July 2021, the Swiss Confederation announced the success of its latest […]
Migros Bank could pass on negative interest rates
20 Minutes. Because of negative interest, even a savings account earning 0% interest is earning too much reckons the bank’s boss. Soon many banks will be passing on some of the cost of negative interest to their clients, reports 20 Minutes. Migros Bank will need to seriously consider doing the same in 2017. The bank’s boss Harald […]
Swiss National Bank won’t cut record low interest rate again, survey shows
Brought to you by Investec Switzerland. The Swiss National Bank, which has the lowest interest rate among the world’s major central banks, may be done cutting. SNB President Thomas Jordan and his fellow policy makers will keep the deposit rate unchanged at minus 0.75 percent until at least the end of the first quarter of […]
Negative interest pushes Switzerland’s 2016 budget into positive territory
Switzerland’s budget for 2016 is looking better than expected. Instead of a shortfall of CHF 0.5 billion, the latest figures forecast a surplus of CHF 1.7 billion. Overall income was up CHF 1.2 billion and costs were down CHF 1.0 billion. This CHF 2.2 billion shift took the annual forecast from CHF -0.5 billion to CHF […]
Despite risks a more negative Swiss interest rate possible says SNB’s Maechler
Brought to you by Investec Switzerland. The Swiss National Bank won’t rule out another interest rate cut, though any measure must be weighed with a view to its potential side effects, Governing Board Member Andrea Maechler said. “We’re always looking into other options, if needed — we’re looking into all of them,” Maechler said at […]