External Content

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

(Bloomberg) -- The Swiss National Bank bought foreign currencies worth 67.1 billion francs ($67.6 billion) last year as it sought to contain the strength of its currency.

The sum, published in the central bank’s annual report on Thursday, compares with a 2015 tally of 86.1 billion francs and a record of 188 billion spent in 2012.

The SNB has used interventions for the better part of a decade to keep the franc, popular among investors as a haven, in check and lessen the risk of deflation. After it gave up its currency cap in early 2015, the SNB has also relied on a negative deposit rate to counter appreciation pressure. It affirmed that two-pillar policy stance last week.

To contact the reporter on this story: Catherine Bosley in Zurich at cbosley1@bloomberg.net.

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss, Jana Randow

©2017 Bloomberg L.P.

Neuer Inhalt

Horizontal Line


subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.







Click here to see more newsletters

swissinfo EN

The following content is sourced from external partners. We cannot guarantee that it is suitable for the visually or hearing impaired.

Join us on Facebook!

Bloomberg