Switzerland: The governing board of the Swiss National Bank (SNB) cut its key policy rate, by 25 basis points to 1.5%, it announced on March 21.This is the first cut since the SNB increased the sight deposit remuneration rate to 1.75% in June 2023. The new rate will take effect from March 22.The sight deposit remuneration rate prescribes the interest paid on deposits held by commercial banks, but only up to a certain threshold. Above the threshold, the SNB applies a discount rate of 50% and only

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