Market Information Friday 18 April 2025

The ECB lowered its interest rates by 25 basis points, as expected. The deposit rate was reduced from 2.50% to 2.25%, the main refinancing rate from 2.65% to 2.40%, and the marginal lending facility from 2.90% to 2.65%.

The Central Bank of Turkey increased its policy rate from 42.5% to 46%. Although inflation eased in March, the bank emphasized it will adjust rates cautiously based on inflation expectations. If inflation deteriorates significantly and persistently, further tightening will follow.

U.S. President Donald Trump urged Federal Reserve Chair Jerome Powell to cut rates “now for sure,” claiming Powell is always late and wrong. Trump pointed out that the ECB is expected to cut rates for the seventh time. Powell, however, reiterated the Fed has room to wait and warned tariffs might temporarily or persistently raise inflation.

The 6M Euribor decreased with 2 basis points to 2.19% compared to previous business day. The 10Y Swap decreased with 2 basis points to 2.50% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.