**As seen in Macro Walk report 01/07/2022, subscribe at cablefxm.co.uk/reports
This week, we saw an overall increase in rate hike bets across our selected list of overnight indexed swap markets. The USD OIS is now pricing in two rate hikes by July, up from circa 1&1/2. Also, by June, the market implies that the Federal Funds Rate will be above 0.5%
For the BoE, which is set to decide on monetary policy in early February, the OIS sees an 83% chance of a hike/cut, the curve expects 2 hikes in the Bank Rate by May
As a reminder: we will be having central bank meetings from the FOMC, BoC and BoJ during the last week of this month. Stay tuned!
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