BIG PICTURE

Inflation / rates

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GLOBAL POLICY

Global rates & inflation

Country / areaPolicy rateInflation YoYReal-rate proxy¹Next decisionNext hike probability

Sources: BIS / Eurostat. Japanese labels are unofficial translations. Inflation: euro-area HICP; national CPI elsewhere.

¹ Policy-rate midpoint minus trailing headline inflation, not an expected real rate. Country definitions, observation dates and sources are shown alongside each value.

Unverified meeting dates and unavailable market-implied probabilities are shown as —. Probabilities are never inferred or invented.