BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//NowPrice//Economic Calendar//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:cal-050b2a3bc6738407@nowprice.io
DTSTAMP:20260823T235403Z
DTSTART:20260826T161500Z
DTEND:20260826T164500Z
SUMMARY:SNB Martin Speech (CHF)
DESCRIPTION:In Switzerland\, interest rate decisions are taken by the Swi
 ss National Bank. The official interest rate is the SNB policy rate. The 
 SNB seeks to keep the secured short-term Swiss franc money market rates c
 lose to the SNB policy rate. SARON is the most representative of these ra
 tes today. As of 13 June 2019\, the SNB policy rate replaced the target r
 ange for the three-month Swiss franc Libor (London Interbank Offered Rate
 ) previously used in the SNB's monetary policy strategy. The reason for t
 his adjustment was that the Libor was becoming less relevant as the most 
 important reference rate owing to the absence of the underlying money mar
 ket transactions. From 6 September 2011 to 15 January 2015\, the main foc
 us of implementation was on the minimum exchange rate of CHF 1.20 per eur
 o\, which the SNB enforced during this period. On 18 December 2014\, the 
 SNB decided to impose an interest rate of -0.25% on sight deposit account
  balances. With the announcement of a negative interest rate\, the Libor 
 target range used then was taken into negative territory for the first ti
 me\, and extended to its usual width of 1 percentage point. On 15 January
  2015\, the SNB lowered the interest rate on sight deposits to -0.75% and
  moved the target range downwards to between -1.25% and -0.25%. Negative 
 interest has applied since 22 January 2015 and currently corresponds to t
 he SNB policy rate.
URL:https://nowprice.io/calendar/event/050b2a3bc6738407
END:VEVENT
END:VCALENDAR