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Bring On The Easing Cycle

STIR

STIR markets within the $-bloc are poised for a noticeable easing cycle in 2024, although the trajectory appears to be marginally less assertive than what was reflected in mid-December pricing.

  • The US, Canada, and NZ are all indicating expectations for at least a 100bp reduction in policy rates.
  • Australia stands out as an exception, with only approximately two 25bp cuts factored in by November 2024. Nevertheless, it is still projected to boast the lowest official rate within the $-bloc by the conclusion of 2024.

Figure 1: $-Bloc STIR



Source: MNI – Market News / Bloomberg

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