November 18, 2016 / 12:20 PM / a year ago

SNB's Maechler says still sees benefits of negative rates

FRANKFURT, Nov 18 (Reuters) - The Swiss National Bank will stick with its negative interest rate policy which aims to weaken the safe-haven Swiss franc, governing board member Andrea Maechler said at a conference in Frankfurt on Friday.

When asked if she agreed with an audience survey supporting the view that loose monetary policy had reached the limit of its effectiveness, Maechler said: ”No, that would not be my conclusion.

“As you know the Swiss central bank has gone very far, we’ve introduced negative interest rates to -0.75 percent. We believe the benefit of the negative interest rate still far outweighs the costs.”

Reporting by Joshua Franklin; Editing by Michael Shields

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