Tuesday, August 1, 2017


There was one notable - and unexpected - development, and it had to do with the SNB's -0.75% deposit rate. As Reuters writes, Swiss banks paid 970 million Swiss francs ($1 billion) in negative interest rate charges in the first half of 2017, a 40% surge from the previous year, as clients continued to hoard even more cash despite every possible action undertaken by the central bank to force savers to spend, or better yet, invest the funds.

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