Swiss central bank posts biggest loss in its 116-year history
Publishing timestamp: 2023-01-09 13:13:32
Summary
The Swiss National Bank reported a loss of 132 billion Swiss francs ($143 billion) for 2022, the biggest loss in its 116-year history. This loss was due to foreign currency positions and Swiss franc positions, and as a result, the bank will not make its usual payouts to the Swiss government and member states. Despite this, the bank is still expected to raise interest rates to 2% this year, and analysts believe that the bank will be able to rebuild its valuation reserves and show profits sooner than the European Central Bank.
Sentiment: NEUTRAL
Tickers: CHF=,
Keywords: us dollar/swiss franc fx spot rate, world economy, business news, central banking,
Source: https://www.cnbc.com/2023/01/09/swiss-national-bank-posts-record-143-billion-loss.html