Free Trial

Market Pricing In Terminal Rate at 6%

POLAND
  • NBP Glapinski mentioned during his press conference yesterday that the war impact on Polish inflation may be around 4 to 5 ppt.
  • There is still uncertainty over how high interest rates could rise, but Glapinski mentioned that rates are still not high relative to historical range.
  • Polish rates may start to fall at the end of 2023 as inflation gradually converges toward its target next year.
  • With the FRA 6Mx9M trading at 150bps above the Wibor 3M, market is pricing in a terminal rate at 6%.
  • This morning, Polish Ruling Party Leader Kaczynski said on radio that NBP Governor Glapinski will be backed for 2nd term.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.