Swiss National Bank has scope to go further into negative rates

ZURICH, April 1 (Reuters) - The Swiss National Bank can go deeper into negative interest rates to tackle the strong Swiss franc and maintain its price stability goal, expanded governing board member Martin Schlegel said on Monday.

The SNB still has room in its monetary policy, Schlegel said, in response to comments by the International Monetary Fund that its leeway had been reduced by low interest rates by other central banks.

That “means we could lower the negative interest rates, we still could intervene in the FX market if necessary,” Schlegel told a news conference in Bern. “We have room on both instruments. They are our policy pillar and remain absolutely essential at the moment.” (Reporting by John Revill Editing by Riham Alkousaa)