I would like to understand how to calculate implied rate hike probabilities for other countries other than just the US. Understanding how much a rate hike is priced in can be a useful tool (assuming of course that if it's in the futures, then it's also baked in other instruments as well, which probably is not always true). For the US, this link explains one way you can calculate the probability for the US: http://www.cmegroup.com/education/fed-funds-futures-probability-tree-calculator.html Now for other countries, I don't know how one can do that. For example for Canada, there are I think the OIS futures, but how it works, I am not sure. I also read some other opinions, like that you can calculate these probabilities from the forward curves, or from options. Does anyone have experience with this?