Swiss National Bank out with the 2016 Annual Report 23 March
- intervention carried out to counter an undesired tightening of monetary conditions
- interventions occurred mainly at times of heightened uncertainty when franc was particularly sought after as a safe investment
Not going to change anytime soon then.
By way of comparison the SNB spent CHF 188bln in 2012 vs 86.1bln in 2015 . US admin and G20 noticeably quiet on the SNB activity but then Switzerland isn't part of their gang anyhow.
USDCHF 0.9915 and still with a line in the sand nearby at 0.9900. EURCHF 1.0710 having held 1.0700 but still on the back foot as safe-haven franc demand continues.
Full 109th SNB Annual Report here. Just the 224 pages.
