Rate cuts by year-end

  • Fed: 45 bps (90% probability of no change at the next meeting)
  • ECB: 44 bps (61% probability of no change at the next meeting)
  • BoE: 44 bps (57% probability of rate cut at the next meeting)
  • BoC: 46 bps (58% probability of no change at the next meeting)
  • RBNZ: 36 bps (95% probability of no change at the next meeting)
  • SNB: 22 bps (51% probability of rate cut at the next meeting)

Rate hikes by year-end

  • BoJ: 20 bps (57% probability of rate hike at the next meeting)
  • RBA: 10 bps (65% probability of no change at the next meeting)