“The loss on foreign currency positions amounted to around CHF131 billion and the loss on Swiss franc positions was around CHF1 billion. A valuation gain of CHF400 million was recorded on gold holdings,” the SNB said in a statementExternal link on Monday.
The 2022 loss means the SNB will not make its usual payout to the Swiss federal and cantonal governments, it said. Last year it paid out CHF6 billion.
The figures released on Monday are provisional. They mark a reverse from the CHF26 billion profit in 2021. They are also much bigger than the previous record loss of CHF23 billion in 2015.
The loss is unlikely to have an impact on SNB policy. It hiked interest rates three times in 2022 as Chairman Thomas Jordan moved to stem high Swiss inflation, analysts said.
In mid-December the Swiss central bank increased its policy rate and the rate it charges on sight deposits to 1.0% from the 0.5% level set in September. The move follows a 0.5% interest rate hike by the United States Federal Reserve.
The SNB will release detailed annual figures on March 6.
More
More
Swiss central bank hikes interest rate to counter ‘spread of inflation’
This content was published on
The Swiss National Bank (SNB) increased its benchmark interest rate on Thursday for the third time this year, taking it to 1%.
Train vs plane: would you take a direct train between London and Geneva?
Eurostar is planning to run direct trains from Britain to Germany and Switzerland from the early 2030s. Would you favour the train over the plane? If not, why not?
Swiss watch industry calls for ‘clear solution’ with US
This content was published on
Federation of the Watch Industry calls for clear solution to tariff threat and a swift agreement between Bern and Washington.
Swiss youngsters illegally obtain alcohol in a quarter of test purchases
This content was published on
In a quarter of all alcohol test purchases last year, young people in Switzerland were able to obtain beer, wine or spirits illegally.
Swiss storm damage more frequent and more expensive
This content was published on
Storm damage has increased by 126% in the last ten years. Costs have risen by 133% in the same period, according to Helvetia Insurance.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss central bank hikes interest rate to counter ‘spread of inflation’
This content was published on
The Swiss National Bank (SNB) increased its benchmark interest rate on Thursday for the third time this year, taking it to 1%.
SNB board member says more rate hikes may be needed
This content was published on
The Swiss National Bank (SNB) may raise interest rates again to fight Swiss inflation, says governing board member Andrea Maechler.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.