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Zurich, 22 July 2022 – Following the decision of the European Central Bank to increase the main EUR policy interest rate by 50 basis points to 0% as of 27 July 2022 and the previous increase in the CHF policy interest rate from -0.75% to -0.25% by the Swiss National Bank effective 17 June 2022, Julius Baer announces today that it will no longer charge negative interest rates on client deposits in euro, Swiss franc, and Danish krone as of 1 August 2022. In a persistent negative interest rate environment, Julius Baer has been applying negative interest rates to client cash holdings in these currencies.