The Swiss National Bank will raise interest rates by 25 basis points on June 22, defying market expectations for a larger move, according to economists polled by Reuters who said the bigger risk was rates will peak higher than they expect.

An overwhelming majority of economists, 30 of 33, polled June 15-19 said the SNB will raise its key policy rate by 25 basis points to 1.75%, less than the 50 basis points it delivered in March

„We think the SNB will deliver another 25bp hike in June, with a risk for 50bp…and, while still data dependent, this is probably the last hike in this cycle,“ noted Ruben Segura-Cayuela, head of Europe economics research at BofA

This article was written by Ryan Paisey at www.forexlive.com.