Swiss National Bank cannot exclude negative interest rates in future

ZURICH, Jan 27 (Reuters) - Swiss National Bank Chairman Martin Schlegel has not ruled out taking the central bank's policy rate into negative territory if necessary, he said on Monday, although such a step would not be taken lightly.

"The SNB doesn't like negative interest rates, at the same time we can't rule negative interest rates out," Schlegel told broadcaster SRF in an interview.

Negative interest rates had been effective when previously used by the SNB, Schlegel said, although the central bank would only return to the policy if it was "really necessary."