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President Duda To Meet His US Counterpart Biden

POLAND
  • U.S. President Joe Biden is scheduled to meet his counterpart Andrzej Duda, U.S. troops and non-government organizations dealing with aid to Ukrainian refugees during the first day of his visit in Poland (BBG).
  • Yesterday, BNP increased its NBP terminal rate forecast to 6.5%.
  • With the FRA 3Mx6M trading at 140bps above the Wibor 3M, market is currently pricing in a terminal rate at 5% (policy rate is currently at 3.5%).
  • Market is also pricing in a large hike for April’s meeting (i.e. 75bps), with the FRA 1Mx4M trading at 77bps above the Wibor 3M.

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