Rate cuts by year-end

  • Fed: 62 bps (96% probability of no change at the next meeting)
  • ECB: 42 bps (62% probability of rate cut at the next meeting)
  • BoE: 46 bps (56% probability of no change at the next meeting)
  • BoC: 62 bps (92% probability of rate cut at the next meeting)
  • RBNZ: 70 bps (50% probability of rate cut at the next meeting)
  • SNB: 26 bps (73% probability of rate cut at the next meeting)

Rate hikes by year-end

  • BoJ: 20 bps (60% probability of no change at the next meeting)
  • RBA: 8 bps (76% probability of no change at the next meeting)