January 9, 2019 / 6:32 AM / 2 months ago

Swiss National Bank expects 15 billion franc loss for 2018

ZURICH, Jan 9 (Reuters) - The Swiss National Bank expects to swing to an annual loss of 15 billion Swiss francs ($15.29 billion) for 2018, it said on Wednesday, as slumping stock markets and the rising franc slashed the value of its massive foreign currency investments.

The loss would reverse the record 54.4 billion franc profit the central bank chalked up during 2017, and mainly reflected losses from its foreign currency holdings built up during the SNB’s fight to tame the strong franc.

$1 = 0.9813 Swiss francs Reporting by John Revill; Editing by Michael Shields

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below