Market Information Monday 21 August 2023

On Monday, it was confirmed that China has once again lowered interest rates, as indicated in a report by the People’s Bank of China. On Monday, the one-year loan prime rate was lowered by 10 basis points to 3.45%, while the five-year rate remained unchanged at 4.2%. The recent actions of the Chinese central bank reflect growing concerns about the slowing Chinese economy.

The Netherlands maintains its AAA credit rating even as its economy has entered a recession, according to a new report by credit rating agency Fitch Ratings released on Friday evening. Fitch also stated that the outlook remains stable, noting, “The Dutch AAA rating is supported by a flexible and open economy with high added value.”

In July, inflation in the eurozone decreased further, as confirmed by final figures released by Eurostat on Friday. Prices increased by 5.3% year-on-year last month. In June, the inflation rate was 5.5%, versus 6.1% in May.

The 6M Euribor decreased with 2 basis points to 3.94% compared to previous business day. The 10Y Swap decreased with 7 basis points to 3.23% 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.