The Swiss National Bank has been on a foreign currency buying spree.
Numbers just published show it bought the equivalent of over CHF 100m of foreign currencies in the last three months of last year. It holds over a billion francs in foreign reserves in total.
It’s the first time the bank has significantly increased foreign holdings since 2022.
Foreign currency purchases is one of the key monetary policy instruments open to the bank. Selling francs on the currency markets helps to lower its rate.
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