Weekly update on interest rate expectations

Rate cuts by year-end

• Fed: 36 bps (94% probability of no change at the upcoming meeting)
• ECB: 86 bps (97% probability of rate cut at the upcoming meeting)
• BoE: 61 bps (72% probability of no change at the upcoming meeting)
• BoC: 55 bps (67% probability of rate cut at the upcoming meeting)
• RBA: 80 bps (85% probability of rate cut at the upcoming meeting)
• RBNZ: 110 bps (57% probability of 25 bps rate cut at the upcoming meeting)
• SNB: 40 bps (92% probability of rate cut at the upcoming meeting)

Rate hikes by year-end

• BoJ: 34 bps (95% probability of no change at the upcoming meeting)