Despite its small size, the Swiss central bank (SNB) stands out.
Last year it posted a comfortable profit of 20.9 billion Swiss francs, or around 19 billion euros.
The SNB is in charge of Swiss monetary policy with two objectives in sight
: "to avoid importing inflation and above all to control the level of exchange of the Swiss franc against the major international currencies and in particular against the euro. and the dollar
”explains Valentin Bissat, strategist at Mirabaud AM.
“Covid savings”: how banks manage the French cash flow
In times of heightened tensions on the financial markets, investors tend to rush to the Swiss franc, the traditional safe haven.
This rush of investors has the effect of making the price of the Swiss currency soar.
The consequences can be disastrous for national champions like Nestlé, Novartis or Roche, who find themselves at a disadvantage in international markets.
To counter these harmful effects and try to calm down
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