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Real-time market-implied odds

See where rates are headed.Before the meeting.

Market-implied probabilities for Fed and ECB interest-rate decisions, with historical tracking over days and weeks. Computed from Fed Funds Futures and €STR OIS. Never scraped.

methodology v1.0.0·3d ago·git

Next decision
European Central Bank · June 11, 2026

Hold rates

Current policy rate 2%. Market puts 56% on this outcome.


Most likely path · cumulative
Fed path
Most-likely outcome at each upcoming meeting, chained in order.
Cumulative pricing
-14 bps by Dec 9
FED
Jun 17
-25bp
55%
Σ -14bp
→
FED
Jul 29
-50bp
100%
Σ -64bp
→
FED
Sep 16
+50bp
100%
Σ -14bp
→
FED
Oct 28
-50bp
100%
Σ -64bp
→
FED
Dec 9
+50bp
100%
Σ -14bp
ECB path
Most-likely outcome at each upcoming meeting, chained in order.
Cumulative pricing
-48 bps by Dec 17
ECB
Jun 11
Hold
56%
Σ -11bp
→
ECB
Jul 23
-25bp
61%
Σ -46bp
→
ECB
Sep 10
Hold
92%
Σ -48bp
→
ECB
Oct 29
-50bp
100%
Σ -98bp
→
ECB
Dec 17
+50bp
100%
Σ -48bp

Implied rate curves
Implied policy-rate path
Federal Reserve. Expected rate at each upcoming meeting, derived from today's probability distribution.
Implied policy-rate path
European Central Bank. Expected rate at each upcoming meeting, derived from today's probability distribution.

Per-meeting probabilities · Fed

Wednesday, June 17, 2026

FOMC meeting · FED

Most likely
-25bp · 55%
OutcomeProbabilityMoved · last 7dPost-meeting rate
-50bp0.0%·flat3.875%
-25bp55.4%·flat4.125%
Hold44.6%·flat4.375%
+25bp0.0%·flat4.625%
+50bp0.0%·flat4.875%
Probability history · last 60 days
-50bp-25bpHold+25bp+50bp
View full details →

Wednesday, July 29, 2026

FOMC meeting · FED

Most likely
-50bp · 100%
OutcomeProbabilityMoved · last 7dPost-meeting rate
-50bp100.0%·flat3.737%
-25bp0.0%·flat3.987%
Hold0.0%·flat4.237%
+25bp0.0%·flat4.487%
+50bp0.0%·flat4.737%
Probability history · last 60 days
-50bp-25bpHold+25bp+50bp
View full details →

Wednesday, September 16, 2026

FOMC meeting · FED

Most likely
+50bp · 100%
OutcomeProbabilityMoved · last 7dPost-meeting rate
-50bp0.0%·flat3.015%
-25bp0.0%·flat3.265%
Hold0.0%·flat3.515%
+25bp0.0%·flat3.765%
+50bp100.0%·flat4.015%
Probability history · last 60 days
-50bp-25bpHold+25bp+50bp
View full details →

Per-meeting probabilities · ECB

Thursday, June 11, 2026

ECB Governing Council · ECB

Most likely
Hold · 56%
OutcomeProbabilityMoved · last 7dPost-meeting rate
-50bp0.0%·flat1.500%
-25bp44.2%·flat1.750%
Hold55.8%·flat2.000%
+25bp0.0%·flat2.250%
+50bp0.0%·flat2.500%
Probability history · last 60 days
-50bp-25bpHold+25bp+50bp
View full details →

Thursday, July 23, 2026

ECB Governing Council · ECB

Most likely
-25bp · 61%
OutcomeProbabilityMoved · last 7dPost-meeting rate
-50bp38.7%·flat1.389%
-25bp61.3%·flat1.639%
Hold0.0%·flat1.889%
+25bp0.0%·flat2.139%
+50bp0.0%·flat2.389%
Probability history · last 60 days
-50bp-25bpHold+25bp+50bp
View full details →

Thursday, September 10, 2026

ECB Governing Council · ECB

Most likely
Hold · 92%
OutcomeProbabilityMoved · last 7dPost-meeting rate
-50bp0.0%·flat1.043%
-25bp7.7%·flat1.293%
Hold92.3%·flat1.543%
+25bp0.0%·flat1.793%
+50bp0.0%·flat2.043%
Probability history · last 60 days
-50bp-25bpHold+25bp+50bp
View full details →

Data computed in-house from Fed Funds Futures (Yahoo Finance) and €STR OIS quotes using the public CME methodology. Not financial advice.

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