ZURICH, Jan 9 (Reuters) - Switzerland’s central bank expects to post a profit of more than 24 billion Swiss francs ($23.57 billion) for 2016, it said on Monday, as it logged big gains from its vast foreign currency holdings and its negative interest rate policy.
The Swiss National Bank made a profit of 19 billion francs on foreign currency investments that rose to roughly 645 billion francs last year, a similar size to the entire Swiss economy.
The bank also made a profit of 3.9 billion francs from the valuation of its gold holdings. The SNB’s profits are not part of its monetary policy mandate.
The profit figure compared with a 23.3 billion franc loss recorded by the bank during 2015 when the value of its foreign currency investments fell dramatically. ($1 = 1.0184 Swiss francs) (Reporting by John Revill, editing by John Miller)