Global Policy Heatmap (FED / BOE / ECB / BOJ)

Policy divergence is a cross-bank read, and cross-bank reads die in prose. This matrix puts every covered bank's priced path on one grid — green where hikes are priced, red where cuts are — with the implied terminal per row. Its ship-time read: FED +43.5bp and BOE +55bp to terminal while the ECB sits at 2.25% — both anglophone markets priced to HIKE into a divergence that the euro area is not sharing. Rows we cannot source honestly (ECB/BOJ meeting paths need paid futures) say so on the row itself.