BERLIN (MNI) – Swiss National Bank president Philipp Hildebrandt
will give a press conference on Thursday afternoon on media reports of
alleged insider currency trading that have engulfed him in scandal, the
SNB announced Wednesday.
The central bank said the media reports were partially incorrect
and did not contain any elements that were not previously known to
supervising bodies.
Swiss weekly Weltwoche reported earlier today that Hildebrand
personally conducted currency deals which previously were believed to
have been undertaken by his wife.
According to Weltwoche, Hildebrand allegedly bought large amounts
of U.S. dollars a few weeks before the SNB announced it would enforce a
ceiling on the Swiss franc and then sold them for profit after the SNB
announcement depressed the value of the Swiss currency.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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