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FOREX CENTRAL BANK WATCH: Interest Rate Expectations Remain Elevated Ahead of BOE Policy Decision

FOREX CENTRAL BANK WATCH: Interest Rate Expectations Remain Elevated Ahead of BOE Policy Decision

2011-02-09 02:10:00
DailyFX Research,
Share:

Central Bank

Current

Interest Rate

Next Policy

Decision Expectation

Market Conviction*

1-yr Exp**

Federal Reserve

0.00% - 0.25%

No change on 03/15

High

+40bps

European Central Bank

1.00%

No change on 03/03

High

+84bps

Bank of England

0.50%

No change on 02/10

High

+80bps

Swiss National Bank

0.25%

No change on 03/17

High

+28bps

Reserve Bank of Australia

4.75%

No change on 03/01

High

+42bps

Bank of Canada

1.00%

No change on 03/01

High

+83bps

Reserve Bank of

New Zealand

3.00%

No change on 03/09

High

+56bps

Bank of Japan

0.10%

No change on 02/15

High

+2bps

*Market Conviction is based on Overnight Index Swaps. A higher level of conviction implies a greater likelihood that the next policy decision expectation is accurate.

**Represents the number of basis points interest rates are expected to rise or fall over the next year.

Daily Update: Interest rate expectations are little changed ahead of today’s BOE monetary policy decision. Though the UK central bank will likely keep rates steady in this meeting, 12-month expectations remain near the highest levels in a year.

Fed interest rate expectations crept higher after Atlanta President Dennis Lockhart indicated that another round of quantitative easing was not likely.

A fairly neutral Australian employment report had little impact on RBA interest rate expectations.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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