ANZ
May 19, 2026
Monetary Policy Expectations Analysis
Market ReportRates Govt BondsMacro Economic IndicatorsFinancials
This report provides a detailed breakdown of market-priced interest rate expectations for New Zealand, USA, Australia, Eurozone, UK, and Canada through mid-2027.
Key Takeaways
- 1.New Zealand's Official Cash Rate (OCR) is priced for significant hikes, moving from 2.25% to an expected 3.65% by August 2027.
- 2.The US Federal Funds Rate is expected to experience a gradual increase from the current 3.63% effective rate to 3.92% by April 2027.
- 3.Australian cash rates are priced to rise from 4.36% to a peak of 4.74% by February 2027 before slightly easing.
Table of Contents
- Monetary Policy Expectations Analysis
- Important notice
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Authors
ANZ Economics and Markets Research
Securities
OCRFFRSONIOEuro Short-Term Rate
Themes
Monetary Policy TighteningMarket-Priced Expectations
Regions
Asia PacificNorth AmericaEuropeNew ZealandUnited StatesAustralia
