Central bank rate cut odds.. How have they changed in Q1? ...Middle East

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Central bank rate cut odds.. How have they changed in Q1?
Towards the end of last year, it was a case of traders being overly aggressive in pricing in rate cuts. And in the first two months of this year, we saw that pricing course correct a fair bit. But where does that leave us now? The SNB has already surprised with action and there are perhaps rate cuts coming in Q2. So, let's take stock of the situation.Here was how things looked like at the end of December, in terms of what is priced in for the whole of 2024:Federal Reserve: -156 bps (first -25 bps in March)European Central Bank: -161 bps (first -25 bps in April)Bank of England: -141 bps (first -25 bps in May)Swiss National Bank: -66 bps (first -25 bps in June)Bank of Canada: -120 bps (first -

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