Fed: 53 bps (96% probability of no change at the upcoming meeting) ECB: 54 bps (96% probability of rate cut at the upcoming meeting)
BoE: 39 bps (95% probability of no change at the upcoming meeting)
BoC: 37 bps (77% probability of no change at the upcoming meeting)
RBA: 72 bps (72% probability of rate cut at the upcoming meeting)RBNZ: 29 bps (69% probability of no change at the upcoming meeting)
SNB: 55 bps (57% probability of rate cut at the upcoming meeting)
*for the SNB, the rest of the probability is for a 50 bps cut
Rate hikes by year-end
BoJ: 18 bps (98% probability of no change at the upcoming meeting)
We can see that the market pricing remained roughly unchanged for most central banks except the RBNZ where traders pared back rate cut bets after the less dovish than expected policy decision.
This article was written by Giuseppe Dellamotta at www.forexlive.com.