In addition, the bank is also lowering the interest rate on sight deposit account
balances that exceed a given exemption threshold by 0.
All banks established in Norway can have a sight deposit account with Norges Bank.
In this case, a bank makes a deposit at a fixed rate for a given period, and the balance on its sight deposit account is reduced by a corresponding amount during that period.
4 per cent to sight deposit accounts
over e1/4100,000 from September, a board member told Reuters.
In an (unsuccessful) attempt to mitigate the likely surge in the franc arising from this move, the central bank lowered the rate on sight deposit accounts