Switzerland has a new way to impose the world's lowest interest rate

Section:

By Catherine Bosley and Richard Jones
Bloomberg News
Wednesday, August 21, 2019

The Swiss National Bank has a new way of enforcing the world's lowest interest rate.

With the franc near a two-year high against the euro, the SNB's decade-old battle against an overly strong currency is back in focus. There's evidence it has been intervening again and analysts are increasingly betting that it will soon follow with a rate cut.

... Dispatch continues below ...



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Glint Completes L5 Million Private Placement
and Welcomes Sprott as Strategic Investor

Company Announcement
Thursday, June 13, 2019

Glint Pay Inc. (glintpay.com), the first-mover company that enables physical gold to make instant payments using a debit Mastercard, today announced the completion of a private placement of L5 Million in London-based parent Glint Pay Ltd. The financing was led by Sprott, an alternative asset manager and a global leader in precious metal and real asset investments with approximately $8 billion in assets under management.

Founded in the United Kingdom in 2016, Glint established the first app-based account in February 2018 giving clients in Europe a low-cost way to buy, sell, and save physically allocated gold and for the first time instantly spend it via the Glint Mastercard anywhere Mastercard is accepted. Glint Pay then added multiple currency wallets, including U.S. dollars, British pounds, and euros in July 2018. The company is working on its launch into the United States. ...

... For the remainder of the announcement:

https://glintpay.com/en_us/glint-en_us/glint-completes-5-million-private...



That would be the first change to the SNB's new benchmark interest rate, introduced in June as a successor to one based on scandal-plagued Libor. Here's a look inside the central bank's machine room. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-08-21/switzerland-has-a-new...

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