The Swiss National Bank (SNB) reported a substantial reduction in its foreign currency market interventions during 2024, purchasing forex worth 1.2 billion francs. This shift in strategy aligns with the central bank's reliance on interest rates to guide monetary policy. According to SNB Chairman, the current monetary conditions are deemed appropriate, and while the bank has slowed its interventions, it remains prepared to engage in foreign exchange markets if deemed necessary. The Chairman also emphasized that Switzerland does not engage in currency manipulation.