March 23, 2017 / 7:59 PM / 6 months ago

Swiss National Bank committed to expansive policy

Swiss National Bank (SNB) Governing Board member Andrea Maechler attends their annual news conference in Bern, Switzerland December 15, 2016. REUTERS/Ruben Sprich

ZURICH (Reuters) - The Swiss National Bank is watching the unfolding European political situation but is convinced it has the correct tools to deal with any potential uncertainties that could arise, governing board member Andrea Maechler said on Thursday.

“We are looking at all situations, and we have come to the conclusion that the current monetary policy of negative interest rates and the readiness to intervene when needed in the currency markets are the best policy for Switzerland,” Maechler told an event in Zurich.

Negative rates, designed to temper the allure of the safe haven Swiss franc but which have come under fire as a charge on banks, remained “very important,” Maechler said.

Reporting John Reville, editing by John Miller

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