The Swiss National Bank records a loss of 3.2 billion francs in 2023

No distribution of operating profits for 2023 for the Swiss National Bank. The loss, although much lower than that recorded in 2022 (134 billion francs), is still very onerous: 3.2 billion francs ($3.6 billion), added to the reserve for negative future dividends (-39.5 billion francs) and to the reserve – attribution of reserve allocations Cash (10.52 billion).

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The main reason for the SNB's red balance sheet lies in the more restrictive monetary policy imposed by the central bank, which created the increase in interest rates to combat inflation. Indeed, this decision has achieved the desired results: inflation in Switzerland is lower than in neighboring countries, and prices rose by 1.2% in February.

Not only. The Swiss franc strengthened due to lower Swiss inflation and higher interest rates. The result was losses in dividends, interest and capital gains linked to the exchange rate.