to announce Swiss central bankfor a record loss of 132 billion Swiss francs (last year, breaking the previous record, when its loss in 2016 reached 23 billion, due to the decline in financial markets, which reduced the value of shares and bonds in wallet.
The central bank clarified information today, Monday, in its preliminary results report that the loss is the largest in the bank’s 115-year history and the previous record loss amounted to 23 billion Swiss francs and was reported by the bank in 2016.
The bank said the huge loss resulted in the central bank not making customary payments to central and regional governments in the past. SwissOh, and the Swiss National Bank paid out six billion francs last year.
The losses come at the expense of falling financial markets, which sent the value of shares and bonds held by the bank plummeting, and global stock markets weakened last year and bond prices fell due to high interest rates, that central banks around the world, including the Swiss National Bank, are grappling with rapid inflation.
According to analysts, last year’s record loss should have no impact on the monetary policy of the central bank, which raised interest rates three times last year.
