• 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

This article was written by Giuseppe Dellamotta at www.forexlive.com.