Group 1 - The monetary policy expectations among major developed economies show significant divergence, with the Federal Reserve and the Bank of England expected to continue implementing rate cuts by the end of 2026, while most other central banks are anticipated to raise rates [1] - The implied expectations from the current interest rate futures market indicate that the Federal Reserve is expected to cut rates by approximately 54 basis points by the end of 2026, with a 73% probability of maintaining rates in the next meeting [1] - The Bank of England is projected to cut rates by 61 basis points by the end of 2026, with a high probability of 90% for a rate cut in the next meeting [1] Group 2 - In contrast, other major central banks are leaning towards tightening their policies, with the Bank of Canada expected to raise rates by 25 basis points and a 93% probability of holding rates steady in the next meeting [1] - The European Central Bank is anticipated to raise rates by 10 basis points, with a 100% probability of maintaining rates in the next meeting [1] - The Bank of Japan is expected to raise rates by 67 basis points, with a 76% probability of a rate hike in the next meeting [1] Group 3 - The divergence in monetary policy could have profound effects on the global foreign exchange market, potentially putting pressure on the US dollar and British pound due to relatively loose monetary policies [2] - There may be new trading opportunities if subsequent economic data triggers a re-evaluation of the interest rate paths by the market [2]