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May 18, 2026

Monetary Policy Expectations Analysis

Market ReportMacro Economic IndicatorsRates Govt BondsFinancials

A comprehensive data summary of market-priced interest rate expectations for New Zealand, USA, Australia, Eurozone, UK, and Canada as of May 18, 2026.

Key Takeaways

  • 1.New Zealand's Official Cash Rate (OCR) is priced to increase from its current 2.25% to 3.64% by August 2027.
  • 2.The US Effective Federal Funds Rate (FFR) is expected to rise gradually from 3.63% to 3.94% by April 2027.
  • 3.Australian interest rates are priced to peak at approximately 4.75% in early 2027, up from a current rate of 4.35%.

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 RateSONIA Rate€STRON

Themes

Monetary Tightening BiasGlobal Rate Convergence

Regions

Asia PacificNorth AmericaEuropeNew ZealandUnited StatesAustralia