ZURICH (Reuters) – The Swiss National Bank lost 142.2 billion Swiss francs ($142.60 billion) in the first nine months of 2022, it said on Monday, as rising interest rates and the stronger Swiss franc slashed the value of the central bank’s foreign investments.
The loss – the largest in the SNB’s 115-year history – was slightly more than the annual economic output of Morocco ($132 billion).
The SNB made a loss of 141 billion francs from its foreign-currency positions as the bonds and stocks bought during its campaign to stem the appreciation of the safe-haven franc slid in value.
($1 = 0.9972 Swiss francs)
(Reporting by John Revill, Editing by Miranda Murray)
