ABOUT FRA start, points, months, forward, interest

小凤王

Forward-rate agreements compiled by Bloomberg show expectations for a 160 basis-point reduction in benchmark borrowing costs in the next three to six months, up from 47 basis points at the start of the week."
请问这句话是什么意思 我知道基点下降就是利率下降 那这个利率是forward rate or interest rate? 和fra有什么关系啊