LONDON, (Reuters) – Citibank expects that the Swiss National Bank will raise its key rate 25 basis points at next week’s meeting.

The Swiss inflation rose to its highest level in almost 14 years in May. Recently, some policymakers were more pessimistic.

The U.S. bank stated that “We expect to see the SNB increase its policy rate 25bp, to -0.5% by 16 June” and to exit negative territory by 2022.