SNB reserves hit Sfr1 trillion

The Swiss National Bank
Louis Rafael Rosenthal

The Swiss National Bank’s reserves have climbed above Sfr1 trillion ($1.1 trillion) for the first time, as the central bank continues its policy of foreign exchange intervention.

Balance sheet data for June shows the SNB’s official reserve assets were worth Sfr1.002 trillion, up from around Sfr915 billion a year earlier.

In its June monetary policy assessment, the SNB reiterated its willingness to intervene in the FX market “as necessary”, saying it continues to consider the franc “highly

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