FCC Chairman Raises Competition Concerns Over Netflix–Warner Bros. Discovery Deal 
ECB Signals Steady Interest Rates as Fed Risks Loom Over Outlook 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
Trump to Announce New Federal Reserve Chair Pick as Powell Replacement Looms 
Gold Prices Pull Back After Record Highs as January Rally Remains Strong 
Panama Supreme Court Voids CK Hutchison Port Concessions, Raising Geopolitical and Trade Concerns 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
Trump Administration Expands Global Gag Rule, Restricting U.S. Foreign Aid to Diversity and Gender Programs 
China Holds Loan Prime Rates Steady in January as Market Expectations Align 
BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan 
U.S. Vaccine Policy Shifts Under RFK Jr. Create Uncertainty for Pharma and Investors 
U.S. and El Salvador Sign Landmark Critical Minerals Agreement to Boost Investment and Trade 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
New York Fed President John Williams Signals Rate Hold as Economy Seen Strong in 2026 
The Swiss National Bank (SNB) remains committed to using interest rates and currency interventions to maintain price stability, despite potential U.S. scrutiny. SNB Chairman Martin Schlegel reaffirmed this stance, emphasizing that the bank's primary monetary tool is interest rates, with foreign exchange interventions used only when necessary.
Switzerland was labeled a currency manipulator by the U.S. Treasury in 2020 for allegedly weakening the Swiss franc to gain a trade advantage. However, the country later had the designation removed in 2023 after defending its monetary policies. Schlegel clarified that the SNB's focus on interest rates over currency intervention is not a response to political pressure but aligns with its long-standing policy framework.
To prevent excessive franc appreciation and deflation, the SNB is open to reintroducing negative interest rates, a measure it used for nearly eight years until September 2022. While acknowledging that negative rates are unpopular with savers, Schlegel stressed they were effective in making the franc less attractive. However, he stated that the SNB would only implement them if absolutely necessary.
Countries labeled as currency manipulators risk penalties such as exclusion from U.S. government contracts, but the SNB remains firm in its approach. Schlegel reiterated that the bank’s mandate is to ensure price stability, using all available tools, including exchange rate interventions, to achieve this goal.
By maintaining a flexible yet decisive monetary policy, the SNB aims to stabilize inflation and manage currency fluctuations, reinforcing Switzerland’s economic resilience amid global financial pressures.
