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
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea to slap fines on food suppliers for ‘shrinkflation’
Stormy Daniels’ ex-lawyer in the hot seat at Trump trial
New Zealand says ‘seriously concerned’ by China’s increased security actions in Pacific
EU, ISSB agree on minimising overlaps in company climate disclosures
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools