Reuters Poll

On June 14, Reuters reported the Swiss National Bank to leave rates steady in June, raise 25 bps in Sept: Reuters Poll 

Surprise Hike to Negative 0.25 Percent 

In a Surprise Move on June 16, SNB Chairman Thomas Jordan said rising Swiss inflation - which hit its highest level in nearly 14 years in May - meant the central bank may have to act again.

"Without today's SNB policy rate increase, the inflation forecast would be significantly higher," Jordan told a news conference.

"We are not in the business of very precise forward guidance, but ... at the end of our forecast horizon inflation will again go over 2% so we have to see what measures are necessary," Jordan said.

No Leaks!

Unlike the US where the WSJ reported a leak in a blackout period just two days before the Wednesday announcement, the Swiss National Bank does not engage in forward guidance or last second leaks to existing guidance.