ANZ
May 14, 2026
Monetary Policy Expectations Analysis
Market ReportMacro Economic IndicatorsRates Govt BondsOther
This ANZ Research report analyzes market expectations for interest rate paths across New Zealand, USA, Australia, Eurozone, UK, and Canada through 2027.
Key Takeaways
- 1.New Zealand's Official Cash Rate is priced to increase from its current 2.25% to a projected 3.68% by August 2027.
- 2.Australian interest rates are expected to peak at 4.77% between December 2026 and March 2027 before a slight easing in May 2027.
- 3.US Federal Funds Rate expectations remain relatively stable in the near term with a gradual projected increase to 3.83% by 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 Rate (FFR)Sterling Overnight Index Average (SONIA)Euro Short-Term Rate (€STRON)
Themes
Global Monetary TighteningMarket Pricing of Interest Rate Curves
Regions
Asia PacificNorth AmericaEuropeNew ZealandUnited StatesAustralia