GENEVA, SWITZERLAND – The Swiss National Bank vowed Thursday 15 March to maintain the franc’s exchange rate against the euro, saying that the appreciation of the national currency could have serious repercussions on the country’s economy. The Zurich-based monetary institution says it will continue to defend the franc in the existing “currency war”, by maintaining [...]
Swiss central bank finishes 2012 with CHF6.9 billion profit
March 7, 2013 by
ZURICH, SWITZERLAND – Gold, UBS’s bailout fund paybacks, and foreign currency positions helped feed the CHF6.9 billion consolidated profit posted by the Swiss National Bank Thursday 7 March. The final figure was in line with its forecast of CHF6b published 17 January. Thursday’s statement from the central bank shows that the parent company’s profit was [...]
Swiss central bank ends 2012 with CHF6b profit
January 17, 2013 by
ZURICH, SWITZERLAND – A rise in the price of gold and its own foreign currency positions in 2012 will most likely result in a profit for the year of CHF6 billion, the Swiss National Bank announced Monday 17 January. Final and consolidated figures will be released 7 March 2013. Foreign currency positions of CHF4.7b and a [...]
Swiss central bank opens office in Singapore
December 18, 2012 by
ZURICH, SWITZERLAND – The Swiss National Bank will open an Asian office in Singapore in mid-2013, with a staff of seven, it said Tuesday 18 December. It is the central bank’s first office outside the country, although several other national banks have foreign regional offices. The new office will allow it to more efficiently manage [...]
SNB interest rate to remain at zero, unemployment could rise
December 13, 2012 by
ZURICH, SWITZERLAND – The Swiss National Bank said Thursday 13 December it will maintain its cap on the Swiss franc as well as its zero interest rate policy, for the foreseeable future. SNB President Thomas Jordan told journalists that “Global uncertainty will persist for the foreseeable future and drive demand for secure investments.” The Swiss [...]
Swiss central bank showing CHF16.9b profit to date
October 31, 2012 by
Currency positions, gold, capital markets helped build profits, but SNB cautions: strong fluctuations are part of markets ZURICH, SWITZERLAND – The SNB, Swiss National Bank, had a CHF16.9 billion consolidated profit, before allocation to the provisions for currency reserves as of the end of September, it said Wednesday 31 October. This compares to CHF5.8b a [...]
Exchange rates in August mostly steady, SNB figures show
September 3, 2012 by
ZURICH, SWITZERLAND – The Swiss franc held steady against the dollar, euro and pound sterling in August, compared to earlier summer exchange rates, figures published by the Swiss National Bank Monday show. The Interbank trade (bid price) monthly averages for the three in August, compared to July and to August 2011: Swiss franc/euro – 1.2011, [...]
Credit Suisse shares hit 52-month low
July 20, 2012 by
Company said Wednesday it is building capital in answer to central bank criticism ZURICH, SWITZERLAND – Credit Suisse shares hit a 52- month low Friday 20 July, at $16.94 a share, despite news earlier this week of a 2.6 percent increase in net profit. The bank, Switzerland’s second largest, said Wednesday it will be adding [...]
Swiss franc cap to remain, low interest rates to continue holding pattern (update)
June 14, 2012 by
Big bank shares fall on Jordan’s call for more capital ZURICH, SWITZERLAND – The Swiss franc cap of CHF1.20 to the euro will remain and the central bank will continue “to enforce it with the utmost determination”, Thomas Jordan, Swiss National Bank chairman, told a press conference Thursday 14 June. Jordan offered no real surprises, [...]
Dollar and sterling happier, euro glum: SNB exchange rate data for 1 June
June 1, 2012 by
ZURICH, SWITZERLAND – The Swiss National Bank’s exchange rate tables for the past 16 months, updated 1 June, show the dollar bouncing back in May to the level it was at in December and January, in interbank trade, at CHF0.9377. The dollar remained below CHF0.93 during most of 2011. The euro’s slide is clearly laid [...]
