Rate cuts by year-end
- Fed 2025: 36 bps (92% probability of no change at the upcoming meeting)
- ECB 2025: 110 bps (93% probability of rate cut at the upcoming meeting)
- BoE 2025: 47 bps (50% probability of rate cut at the upcoming meeting)
- BoC 2025: 49 bps (50% probability of rate cut at the upcoming meeting)
- RBA 2025: 67 bps (60% probability of rate cut at the upcoming meeting)
- RBNZ 2025: 118 bps (88% probability of 50 bps rate cut at the upcoming meeting)
- SNB 2025: 48 bps (84% probability of 25 bps rate cut at the upcoming meeting)
Rate hikes by year-end
- BoJ 2025: 43 bps (50% probability of no change at the upcoming meeting)
*where you see 25 bps rate cut, the rest of the probability is for a 50 bps cut
