Weekly update on interest rate expectations

Rate cuts by year-end

• Fed: 70 bps (97% probability of no change at the upcoming meeting)
• ECB: 43 bps (57% probability of no change at the upcoming meeting)
• BoE: 51 bps (93% probability of no change at the upcoming meeting)
• BoC: 53 bps (97% probability of rate cut at the upcoming meeting)
• RBA: 60 bps (89% probability of no change at the upcoming meeting)
• RBNZ: 65 bps (80% probability of rate cut at the upcoming meeting)
• SNB: 24 bps (75% probability of rate cut at the upcoming meeting)

Rate hikes by year-end

• BoJ: 34 bps (92% probability of no change at the upcoming meeting)