ANZ
May 13, 2026
Monetary Policy Expectations Analysis
Market ReportRates Govt BondsMacro Economic IndicatorsOther
This ANZ Research report provides a snapshot of current market expectations for interest rate movements in New Zealand, USA, Australia, Eurozone, UK, and Canada through mid-2027.
Key Takeaways
- 1.Markets are pricing in a substantial tightening cycle for New Zealand, with the OCR expected to rise from 2.25% to 3.68% by August 2027.
- 2.UK interest rate expectations (SONIA) show a projected increase from 3.73% to 4.54% by April 2027.
- 3.Eurozone rate expectations reflect a move from a current 1.93% estimated overnight rate to 2.78% by late April 2027.
Table of Contents
- Monetary Policy Expectations Analysis
- Important notice
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Authors
ANZ Economics and Markets Research
Securities
Official Cash Rate (OCR)Effective Federal Funds RateRBA Cash RateSONIA€STRON
Themes
Central Bank Policy DivergenceGlobal Monetary Tightening
Regions
EuropeAsia PacificNorth AmericaNew ZealandUnited StatesAustralia
