The Swiss National Bank (SNBN) introduced a negative deposit rate to stave off inflows from investors seeking a “safe” place to park their funds. The SNB is imposing a charge of 0.25 percent on sight deposits, the cash-like holdings of commercial banks at the central bank, it said in a statement today. It is expanding its target range for the three-month Libor to minus 0.75 percent to plus 0.25 percent. “Over the past few days, a number of factors have prompted increased demand for safe investments,” the SNB said. “The introduction of negative interest rates makes it less attractive to hold Swiss franc investments, ... (full story)