Swiss banking

UBS has revised its forecast for US monetary policy, extending the Federal Reserve's tightening cycle and now predicting a rate hike in March. The Swiss bank made the call after a surprise in inflation data suggested price pressures are persisting longer than expected. The move signals that major banks see the Fed keeping policy restrictive for longer.

A money-laundering affair in Marseille has drawn attention for its colourful cast of characters: a disgraced Russian oligarch, a flamboyant Corsican property developer, a Luxembourg businessman, a financier linked to the Front national, and a globally renowned Swiss bank. The reported involvement of such high-profile international figures in a French financial investigation is what has caught readers' attention.

A building caught fire in Beringen in the canton of Schaffhausen after an ATM was blown up, according to Swiss broadcaster SRF. The explosion and subsequent blaze caused damage to the building, and emergency services responded to the scene. It is not yet clear whether suspects have been identified or anyone was injured. ATM bombings have repeatedly targeted cash machines across Switzerland in recent years.

The Swiss National Bank has removed its threat to intervene in the currency market, judging that strong haven demand for the Swiss franc has eased. The shift signals officials see reduced upward pressure on the franc after geopolitical safe-haven flows subsided, with markets watching how the change shapes expectations for Swiss monetary policy.

Minutes from the Swiss National Bank indicate policymakers see less need to intervene in foreign exchange markets than before. The shift suggests the central bank judges the Swiss franc's movements to be less of a threat to price stability, easing off a policy tool it has used for years to curb franc strength and defend Swiss exporters and inflation targets.

A roundup of central bank commentary covers the Federal Reserve, Bank of England, Bank of Japan, and Swiss National Bank under the September-26 cycle. Markets watch these four institutions for signals on interest rate paths, with the Fed's stance especially influential for global conditions. Traders and analysts parse every policymaker remark for clues on inflation and future policy moves.

UBS has revised its forecast for US monetary policy, now expecting three Federal Reserve rate hikes, adding December 2026 and March 2027 to its projection. The Swiss bank's updated call suggests a firmer view that the Fed will tighten policy further rather than cut, a shift that would ripple through bond yields, currency markets and global borrowing costs.

Elon Musk argued that people get 'confused' by equating an economy with money, saying that if you were shipwrecked with $1 trillion in a Swiss bank account, it would be better to have a can of soup. The remarks, reported by Yahoo Finance, frame real goods and production — not cash — as the foundation of economic value. Commentators are weighing the point against debates over inflation, wealth and what actually sustains economies.