Rate cuts by year-end

  • Fed: 70 bps (96% probability of no change at the next meeting)
  • ECB: 50 bps (67% probability of rate cut at the next meeting)
  • BoE: 55 bps (60% probability of rate cut at the next meeting)
  • BoC: 48 bps (72% probability of rate cut at the next meeting)
  • RBNZ: 67 bps (57% probability of no change at the next meeting)
  • SNB: 35 bps (84% probability of rate cut at the next meeting)

Rate hikes by year-end

  • BoJ: 23 bps (64% probability of rate hike at the next meeting)
  • RBA: 7 bps (77% probability of no change at the next meeting)