Understanding implied rate hike probabilities
When it comes to the US, there’s a pretty well defined way to calculate the implied rate hike probabilities using the Fed Funds futures: http://cmegroup.com/education/fed-funds-futures-probability-tree-cal...
When it comes to other countries, I have understood there are ways to calculate this probability using options even, but that the most standard way of doing this is by using overnight index swaps (OIS) (Canada as an example: https://m-x.ca/nego_cotes_en.php?symbol=OIS%2A)
This question had been asked before on this forum (/forums/investments/91345687), but there was no definitive answer I think, and the answers didn’t mention using OIS. Does someone know how to go about it?