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SNB suffers record H1 loss of 50.1b francs

Central bank position hurt by franc's rise against the euro and fall in value of gold

Published Fri, Jul 31, 2015 · 09:50 PM
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Zurich

THE Swiss National Bank (SNB) suffered a loss for the first half of the year, giving politicians keen to raise their profile in an election year more fodder for criticism.

The SNB had a loss of 50.1 billion francs (S$72 billion) in the six months through the end of June, the central bank said on Friday. That's a record, according to SNB spokesman Walter Meier.

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