Swiss central bank books record loss of 50 billion francs

Last Updated: Friday, July 31, 2015, 14:44

The decision to scrap the limit sent the franc -- a refuge currency -- soaring in value against major currencies and unleashed turbulence on global markets.

Swiss banks' profit rises; staff count down

Last Updated: Thursday, June 18, 2015, 16:34

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

Swiss banks' profit rises; staff count down

Last Updated: Thursday, June 18, 2015, 16:34

Under glare for being an alleged safe haven for illicit funds from across the world, Swiss banks saw their profits rise during 2014 to close to 19.5 billion Swiss francs even as their staff count declined in the year.

Swiss central bank posts massive loss on soaring franc

Last Updated: Thursday, April 30, 2015, 17:42

The Swiss central bank said Thursday it had posted loss of 30 billion francs in the first quarter due to a jump in the franc`s value which led to huge exchange rate-related losses.

SNB says spent $27 billion to defend franc before dropping peg

Last Updated: Thursday, March 26, 2015, 14:12

The Swiss National Bank (SNB) spent 25.8 billion Swiss francs ($26.91 billion) defending the currency late last year before abandoning its peg as too costly for the country`s economy, it said on Thursday.

Swiss central bank under scrutiny after franc shock

Last Updated: Wednesday, February 25, 2015, 23:26

Six weeks after a fateful decision that blasted its currency skywards, Switzerland`s central bank is coming under intense scrutiny, with critics calling for changes to its insular policy practices and century-old ownership structure.

Credit Suisse board takes 25 pct pay cut after U.S. tax fine

Last Updated: Thursday, February 12, 2015, 17:18

Board members of Credit Suisse are taking a 25 percent pay cut and bonuses for top staff are being slashed after a hefty fine from U.S. authorities, the bank said as it also set out a range of measures to tackle the surge in the Swiss franc.

Swiss central bank defends franc move despite turbulence

Last Updated: Saturday, January 17, 2015, 18:41

Switzerland`s central bank on Saturday stood by its shock decision to let the franc soar, insisting the subsequent turbulence rocking global markets and the Swiss economy since the move would eventually subside.

Asia shares wobble; Swiss move heightens volatility

Last Updated: Friday, January 16, 2015, 09:05

MSCI`s broadest index of Asia-Pacific shares outside Japan edged down about 0.1 percent in early trade.

Switzerland ends euro minimum exchange rate, cuts interest rate

Last Updated: Thursday, January 15, 2015, 17:47

In a shock announcement Thursday, Switzerland`s central bank said it was ending a three-year bid to artificially hold down the value of the Swiss franc against the euro, in a move that immediately sent the safe haven currency soaring.

Swiss national bank introduces negative interest rates

Last Updated: Thursday, December 18, 2014, 13:34

The Swiss National Bank on Thursday said it would introduce a negative exchange rate of -0.25 percent on sight deposit account balances at the central bank as it seeks to deter safe-haven buying.

Swiss bank holds key rate but warns of deflation risk

Last Updated: Thursday, December 11, 2014, 17:45

Switzerland`s central bank held its key lending rate on Thursday but revised downwards its forecast for prices, warning that "deflation risks have increased once again".