Swiss National Bank denies currency manipulation after US Treasury watch listing

The Swiss National Bank (SNB) firmly denied allegations of currency manipulation after the U.S. Treasury added Switzerland to a watchlist of countries suspected of unfair currency and trade practices. The SNB emphasized that it does not manipulate the Swiss franc or seek to gain unfair competitive advantages, insisting its policies aim to support Switzerland's economic interests without disrupting trade balances. Despite Switzerland's inclusion on the list, the SNB highlighted minimal foreign exchange interventions in 2024 and its ongoing commitment to maintaining inflation within the 0-2% target range. The central bank is actively engaging with U.S. authorities to clarify its monetary policies and ensure transparency. Economic experts expect the report will not significantly alter the SNB's approach, though caution remains under the current U.S. administration. The SNB reiterated its readiness to intervene in foreign exchange markets as needed but denied any intention of currency manipulation.