Rate cuts by year-end

  • Fed: 50 bps (93% probability of no change at the next meeting)
  • ECB: 42 bps (78% probability of no change at the next meeting)
  • BoE: 50 bps (62% probability of rate cut at the next meeting)
  • BoC: 55 bps (60% probability of rate cut at the next meeting)
  • RBNZ: 40 bps (95% probability of no change at the next meeting)
  • SNB: 21 bps (50% probability of no change at the next meeting)

Rate hikes by year-end

  • BoJ: 20 bps (58% probability of rate hike at the next meeting)
  • RBA: 8 bps (73% probability of no change at the next meeting)