BOJ hiking (slowly), RBA cutting (slowly), Fed, BoC, RBNZ all cutting

A snippet from UBS on Pacific Rim central banks:

• Fed’s easing cycle is just getting started, UBS see another 50 bp of cuts this year and 100 in 2025
• Bank of Japan to raise short term rates by 25 basis points by the middle of 2025
• see the most aggressive easing moves from the Reserve Bank of New Zealand, 200 basis points of cuts by September 2025
• Reserve Bank of Australia is likely to wait until Q1/Q2 before starting its easing cycle, expect 75 basis points of easing by September 2025
  • AUD is UBS’ ‘most preferred’, it’ll benefit from China’s measures.
• 150 basis points of reductions by the Bank of Canada by September 2025

This article was written by Eamonn Sheridan at www.forexlive.com.