The Swiss National Bank will raise interest rates by 25 basis points on June 22, defying market expectations for a bigger move, according to economists polled by Reuters who said the biggest risk was that rates peak further. higher than expected.
An overwhelming majority of economists, 30 out of 33, polled June 15-19, said the SNB would raise its key rate by 25 basis points to 1.75%, less than the 50 basis points it had granted in March.
“We believe the SNB will hike another 25bps in June, with a risk of 50bps…and, while still data dependent, this is likely to be the last hike in this cycle,” noted Ruben Segura-Cayuela, head of economic research in Europe. at BofA