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SEB

June 2, 2026

What's Priced In

Rates StrategyRates Govt BondsMacro Economic IndicatorsFinancials

This report details current market-implied policy rate expectations for the Riksbank, Norges Bank, and G10 central banks as of June 2, 2026.

Key Takeaways

  • 1.Market pricing for the Riksbank suggests a steady increase in the policy rate from 1.75% to 2.02% by the end of 2026.
  • 2.Norges Bank market pricing is higher than both its own March projections and SEB's forecasts, with the market pricing a 4.53% rate by December 2026.
  • 3.RBNZ market pricing is currently flagged as unreliable due to high volatility and potential liquidity issues during European trading hours.

Table of Contents

  • The Riksbank:
  • Norges Bank:
  • ECB:
  • G10, summary:

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Authors

Amanda Sundström

Securities

Riksbank Policy RateNorges Bank Key RateECB Policy Rate

Themes

Central Bank HawkishnessMarket Pricing Volatility

Regions

EuropeNorth AmericaAsia PacificSwedenNorwayUnited States