Citibank expects Swiss central bank to raise interest rates next week

LONDON – Citibank says it expects the Swiss National Bank to hike its key rate by 25 basis points when it meets next week.

Swiss inflation rose in May by the most in nearly 14 years and some policymakers have sounded a more hawkish note recently.

“We expect the SNB to hike its policy rate by 25bp to -0.5% on 16 June and exit negative territory by the end-2022,” the U.S. bank said.

(Reporting by Dhara Ranasinghe; Editing by Saikat Chatterjee)