SNB currency action leaves big imprint on Swiss balance of payments
Switzerland recorded a current account surplus of Sfr66 billion ($70 billion) in 2012, a Sfr14 billion increase on the year before, driven chiefly by overseas investment income, which nearly doubled to Sfr40 billion, according to the country's balance of payment figures released by the Swiss National Bank (SNB) today.
The Swiss financial account, meanwhile, saw a net capital outflow of Sfr97 billion – nearly a tripling of the previous year's figure – following the SNB's large purchases of
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