SNB spent CHF 90 billion on interventions in H1 2020

Author: Justin Low | Category: Central Banks

The SNB releases its first quarterly intervention data


The Swiss central bank reports that they spent CHF 90 billion on currency interventions in the first half of the year, as it ramped up action to curb excessive strengthening in the franc amid the market rout in the 'early days' of the virus pandemic.

For some context, the CHF 90 billion spent means that the SNB has spent more in six months than in the previous three years combined.

Just be aware that this will be part and parcel of new reporting by the SNB every quarter, as highlighted here following their policy meeting this month.

In any case, we already can sort of get an idea of the 'level' of intervention based on the weekly sight deposits data but this is just added confirmation to that.

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