The Swiss National Bank annual report has been published this morning.
- SNB purchased foreign currency worth CHF 86.1 bln to enforce a minmum exchange rate then subsequently to influence exchange rate movements after the peg was scrapped in Jan
- aside from purchasing foreign ccy it did not conduct any mon pol-related open market operations last year
- report confirms that the SNB "intervenes as necessary in order to influence monetary conditions"
The report also reveals that chairman Thomas Jordan got paid CHF 1.15mln inc social contributions vs CHF 1.14mln in 2014. I'm sure that'll please a lot of you. Not.
Meanwhile USDCHF 0.9770 with EURCHF still underpinned at 1.0897
Full report at here
CHF 1.15mln in wages? No wonder Jordan is smiling.
