The Swiss National Bank (SNB) is imposing an interest rate of – 0.25% on sight deposit account balances at the SNB, with the aim of taking the three - month Libor into negative territory. It is thus expanding the target range for the three - month Libor to – 0.75% to 0.25% and extending it to its usual width of 1 percentage point. Negative interest will be levied on balances exceeding a given exemption threshold. The SNB reaffirms its commitment to the minimum exchange rate of CHF 1.20 per euro, and will continue to enforce it with the utmost determination. It remains the key instrument to avoid an undesi rable ... (full story)