The Swiss National Bank will hike its key policy rate by 50 basis points on Thursday, matching the European Central Bank's move last week, as tackling inflation trumps concerns over financial market turmoil, a Reuters poll of economists showed.
Only six economists expected the Swiss National Bank , which is already behind many major central banks in terms of cumulative rate hikes, to go for a 25 basis point hike.
Inflation will remain above the SNB's target at least until next year, the latest poll showed, meaning more rate hikes are possible. That might put further pressure on the Swiss franc . It has already lost around 2.5% against the euro since the ECB's decision last week. "In line with the SNB's recent hawkish rhetoric towards inflation and its strong preference for CHF appreciation, we see upside risks for the policy rate path."
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