🏦📊Swaps Price About 50Bps Of Cuts This Year: Cable FX Macro
- Rosbel Durán
- Jan 26, 2023
- 1 min read
**As seen in Macro Walk report 01/20/23, cablefxm.co.uk/reports
Overnight index swaps price in about 50bps of Fed cuts this year. Measuring the calendar spreads in June to December, Fed cuts pricing built last week
We're less than one week away from the Fed February meeting, the market sees 25bps locked in. Chances of a rate cut favour by 60% as soon as the November meeting
After the BoC January meeting, we also saw building in odds of rate reductions by the central bank in 2023. The policy rate is now seen at around 3.50% by year-end, this is 100bps lower from where the target rate is now
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