Explore stories from Atlantic Canada.
Spice Up Your Life with Homemade Pumpkin Spice: No Bake Pie | SaltWire #shortsvideo #cookingshortsZURICH - The Swiss National Bank on Monday said it was adjusting the interest it pays with money commercial banks lodged with the central bank overnight.
Sight deposits which are held to meet the minimum reserve requirements will no longer be remunerated, while it adjusted the level that different interest rates applied. "The changes have no impact on the current monetary policy stance," the SNB said."These adjustments will ensure that monetary policy implementation remains effective and will reduce interest costs for the SNB," it added.
From Dec. 1, banks will be paid the SNB's policy rate, currently 1.75%, on deposits equivalent to 25 times their minimum reserve requirements.Sight deposits held above the bank's individual threshold will be paid the SNB's policy rate, minus a discount of 0.5 percentage points.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Swiss National Bank Considers Tightening Monetary Policy Amid Inflation ConcernsThe Swiss National Bank may need to tighten its monetary policy further depending on how inflation develops in the country, according to Vice-Chairman Martin Schlegel. Despite inflation easing to 1.6% in August, Schlegel stated that further tightening may be necessary. Economists, however, believe that the SNB has already completed interest rate hikes. The Swiss franc has reached its strongest level against the euro since 2015, which poses challenges for export companies in economically uncertain times.
Read more »
Swiss National Bank Vice Chairman: We Couldn't Save Credit Suisse from CollapseThe Swiss National Bank's vice chairman, Martin Schlegel, stated that the central bank lacked the means to rescue Credit Suisse from collapse in March due to the severity of the lender's liquidity problems. Schlegel emphasized that the SNB had no mandate to save or take over the troubled lender, and criticized the handling of Credit Suisse's AT1 bonds. He also pushed back against critics who believed the central bank should have provided more liquidity and public support.
Read more »
Explore the Archives of Sault Ste. Marie Public LibraryDiscover the rich heritage of Sault Ste. Marie at the North Branch Library on Nov. 24. Get a glimpse of fascinating documents, photographs, and relics that shape the city's history. Free event, registration required.
Read more »
AUS WEEKEND: St. F.X. finishes football regular season at 8-0, will face SMU in semifinalExplore stories from Atlantic Canada.
Read more »
US Treasury seen boosting auction sizes as budget deficit worsensExplore stories from Atlantic Canada.
Read more »
China urges G7 not to have double standards on Japanese food banExplore stories from Atlantic Canada.
Read more »