CHF ICYMI: Swiss National Bank to scrap interest paid on minimum reserves (ECB to follow?)

<p>Justin had the Swiss National Bank news as it hit:</p><ul><li><a href="https://www.forexlive.com/centralbank/snb-announces-changes-to-remuneration-of-sight-deposits-20231030/" target="_blank" rel="follow" data-article-link="true">SNB announces changes to remuneration of sight deposits</a></li></ul><p>In Switzerland, from December 1:</p><ul><li>sight deposits held to meet minimum reserve requirements will no longer be remunerated</li><li>banks will be paid the SNB's policy rate, currently 1.75%, on deposits equivalent to 25 times their minimum reserve requirements, down from 28 times</li></ul><p>More at Justin's post. </p><p>Its no secret that the European Central Bank is considering ways to reduce interest payments to the euro zone's commercial lenders early in 2024. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.