The Swiss National Bank still has room to cut interest rates again and even take rates below 0% if Swiss inflation goes too low, Chairman Martin Schlegel said on Wednesday, although he could not say how likely such a step would be.

"At the moment we are at 0.5%," Schlegel told Reuters at the World Economic Forum in Davos, Switzerland. "This means that we still have some room.

"In Switzerland no one likes negative interest rates. Also the Swiss National Bank doesn't like negative interest rates. But if we have to do it, we would do it again," he added.

(Reporting by Elisa Martinuzzi in Davos and John Revill)