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Swiss National Bank slows foreign currency interventions to a trickle in 2024 - REUTERS
By John Revill
ZURICH, March 18 (Reuters) - The Swiss National Bank greatly reduced its activity in foreign currency markets during 2024, according to data published on Tuesday, as the central bank relied instead on interest rates to steer monetary policy.
The SNB bought foreign currency worth 1.2 billion Swiss francs ($1.4 billion) in 2024, its annual report said, with its purchases slowing to a trickle in the fourth quarter.
The data suggested the SNB bought 88 million francs' worth of foreign currency in the last three months of the year, after buying 1.11 billion francs worth in the previous nine months.
