ANZ
May 26, 2026
Monetary Policy Expectations Analysis
Rates StrategyRates Govt BondsMacro Economic IndicatorsOther
This report provides a comprehensive breakdown of market-priced interest rate expectations across New Zealand, the US, Australia, the Eurozone, the UK, and Canada through mid-2027.
Key Takeaways
- 1.The New Zealand Official Cash Rate (OCR) is projected to rise significantly from its current 2.25% to approximately 3.53% by August 2027.
- 2.Market pricing for the US Federal Funds Rate indicates an expected increase to 4.02% by April 2027 from the current effective rate of 3.63%.
- 3.Australian interest rates are expected to peak at roughly 4.59% in late 2026/early 2027, representing a more modest tightening path compared to New Zealand.
Table of Contents
- Monetary Policy Expectations Analysis
- Important notice
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Authors
ANZ Economics and Markets Research
Securities
Official Cash Rate (OCR)Federal Funds Rate (FFR)SONIA Rate€STRON
Themes
Monetary Policy TighteningCentral Bank Forward Pricing
Regions
Asia PacificNorth AmericaEuropeNew ZealandUnited StatesAustralia
