SNB expects record profits for 2017

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The Swiss National Bank expects a record-high profit of Sfr54 billion ($55.28 billion) for 2017, the central bank said today (January 9).

The results come in at more than double the figure recorded by the central bank in 2016, when it gained Sfr24.5 billion. High bond and equity prices have increased the value of the central bank’s foreign exchange reserves, with additional returns coming from the weaker franc. The profit on foreign currency positions has reached Sfr49 billion, according to the

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