ANZ
June 3, 2026
Monetary Policy Expectations Analysis
Market ReportRates Govt BondsMacro Economic IndicatorsFinancials
This report provides a snapshot of market-implied interest rate expectations for New Zealand, Australia, USA, Eurozone, UK, and Canada as of June 2026.
Key Takeaways
- 1.New Zealand's Official Cash Rate (OCR) is priced to rise significantly from its current 2.25% to an implied 3.63% by September 2027.
- 2.US monetary policy expectations suggest a gradual increase in the Effective Federal Funds Rate from 3.62% to 3.92% by April 2027.
- 3.The UK's SONIA rate is expected to move from an effective 3.73% to 4.27% by early 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)Federal Funds Rate (FFR)SONIA€STRON
Themes
Monetary Policy TighteningCentral Bank Policy Expectations
Regions
Asia PacificNorth AmericaEuropeNew ZealandUnited StatesAustralia
