Weekly update on interest rate expectations

Rate cuts by year-end

• Fed: 63 bps (95% probability of no change at the upcoming meeting)
• ECB: 81 bps (96% probability of rate cut at the upcoming meeting)
• BoE: 52 bps (95% probability of no change at the upcoming meeting)
• BoC: 60 bps (57% probability of no change at the upcoming meeting)
• RBA: 52 bps (82% probability of no change at the upcoming meeting)
• RBNZ: 72 bps (96% probability of rate cut at the upcoming meeting)
• SNB: 35 bps (92% probability of rate cut at the upcoming meeting)

Rate hikes by year-end

• BoJ: 34 bps (99% probability of no change at the upcoming meeting)