UNDERPERFORM

Switzerland’s Central Bank Losses of US$20 Billion.

The Swiss National Bank loss was equal to 7.5% of Switzerland’s GDP. The bank has for some years avoided Swiss franc to appreciate more than 1.2 franc per euro since 2011. But in January the Bank left its currency peg which make massive loss. The huge loss was caused by the Swiss franc appreciation jump more than 20% against Euro after European Central Bank launched 1.1 trillion Euro quantitative easing program. (UP/EO/1/August/15)