CHF 10bn stuffed in sofas

Friday, 16 December 2022 06:30

We’ve been keeping CHF 10bn under the mattress over the last few years.

As interest rates start to climb once again, those who have been keeping cash at home to avoid negative rates are now putting it back into the bank.

This is clear from the latest figures from the Swiss National Bank that show the number of notes in circulation has dropped by 10 billion francs.

That’s 10% of the total cash in the economy.

It’s clear cash was being hoarded as it’s mainly large bills being put back in the bank – 1000 and 200 franc notes.

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