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Nikkei Asia

Hurdles to negative rates 'certainly higher': Swiss central bank chief

The Swiss central bank is prepared to intervene in foreign exchange markets as needed, Chairman Martin Schlegel told Nikkei. (Photo by Takero Minami) TAKERO MINAMI BERLIN -- Switzerland's central bank now faces higher hurdles to reintroducing negative interest rates, its head acknowledged after the bank decided in mid-June to cut its key rate to zero. Stressing the side effects of lower interest rates on depositors and the real estate market in an interview with Nikkei, Swiss National Bank Chairman Martin Schlegel showed caution on further rate cuts -- a reversal from his favoring of them so far.