Martin Schlegel, the President of the Swiss National Bank, said that the bank does not like negative interest rates, but will use them again if necessary to curb speculation on the Swiss Franc. Before his speech, the Swiss National Bank unexpectedly cut interest rates by 50 basis points. The new central bank president threatened again: negative interest rate policy would be reinstated if necessary. "No one likes negative rates, and the Swiss National Bank does not like them either," Schlegel told Bloomberg Television in Bern. "Of course, we are also ready to implement negative interest rates again if necessary. But with our rate cut today, the possibility of negative rates has decreased."