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Losing $51 Billion May Not Matter for Swiss National Bank

Economists mostly unruffled by record shortfall.
relates to Losing $51 Billion May Not Matter for Swiss National Bank
Photographer: Chris Ratcliffe/Bloomberg

Losing 50 billion francs ($51 billion) in half a year might seem like a big deal, unless you're the Swiss National Bank.

For the majority of economists in Bloomberg's monthly survey — 15 of 23 — the record shortfall reported last month doesn't matter for SNB policy. That still leaves a sizable group in the other camp; one concern is that such a loss could make it harder for President Thomas Jordan to push back against any market pressure on the franc with interventions.