Weekly update on interest rate expectations

Rate cuts by year-end

• Fed: 45 bps (98% probability of no change at the upcoming meeting)
• ECB: 80 bps (97% probability of rate cut at the upcoming meeting)
• BoE: 56 bps (84% probability of no change at the upcoming meeting)
• BoC: 46 bps (63% probability of no change at the upcoming meeting)
• RBA: 47 bps (83% probability of no change at the upcoming meeting)
• RBNZ: 55 bps (82% probability of rate cut at the upcoming meeting)
• SNB: 30 bps (81% probability of rate cut at the upcoming meeting)

Rate hikes by year-end

• BoJ: 35 bps (97% probability of no change at the upcoming meeting)