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Limits RegistryThe Swiss National Bank set a policy rate of -0.75% on sight deposits from January 15, 2015 to September 2022 — the deepest negative rate among the European Central Bank (bottomed at -0.50%) and Bank of Japan (-0.10%). Denmark's Nationalbank ran a negative-rate regime over a longer span (2012-2022), but sources disagree on whether its trough matched or exceeded -0.75% depending on which specific rate is measured, so this record is scoped to the SNB's unambiguous figure.
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The Swiss National Bank set a policy rate of -0.75% on sight deposits from January 15, 2015 to September 2022 — the deepest negative rate among the European Central Bank (bottomed at -0.50%) and Bank of Japan (-0.10%). Denmark's Nationalbank ran a negative-rate regime over a longer span (2012-2022), but sources disagree on whether its trough matched or exceeded -0.75% depending on which specific rate is measured, so this record is scoped to the SNB's unambiguous figure.
The most negative policy interest rate (rate on commercial bank sight deposits held at the central bank) ever set by a major, closely-tracked central bank.
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Limits Registry. LR-NEGATIVE-POLICY-RATE. Most negative central bank policy rate. 2026.