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On the other hand, SNB now has a decent-sized mountain of Euros to sell.
by Keyframe 12y ago
On the other hand, SNB now has a decent-sized mountain of Euros to sell.
- ddeck 12y agoThe actual size of the SNBs EUR holdings hasn't grown that much (EUR174 bn in Q3 2014 from EUR90 bn in 2010) and EUR allocation has actually reduced (to 45% from 55% over the same period) [1]. I believe the most recent comments by the ECB also indicate that they have no immediate plans to reduce reserves. With a JPMorgan analyst suggesting a few days ago that a size for the expected ECB QE program of EUR500 million is missing a zero, it's likely not going to be too difficult to find a buyer if they did decide to do so. [1] http://www.snb.ch/ext/stats/balsnb/pdf/deen/A3_2_Devisenanlagen_der_SNB.pdf http://www.snb.ch/ext/stats/balsnb/pdf/deen/A3_2_Devisenanla...