Market Information Thursday 17 August 2023
Released Federal Reserve minutes show that officials, at the last meeting, were divided over the need for further interest rate hikes. In July, the Federal Reserve raised the policy rate by 25 basis points, putting the rate now in the range of 5.25% to 5.50%. The officials stressed the negative economic risks associated with another interest rate hike.
Statistics Netherlands (CBS) estimates that the Dutch economy contracted by 0.3% in the second quarter of this year compared to the previous quarter. This follows a 0.4% economic decline in the first quarter of this year. With two consecutive quarters of economic contraction, the Netherlands is now officially in a mild recession.
According to Eurostat figures, the eurozone economy grew by 0.3% in the second quarter. In the first three months of this year, the economy remained at the same level. On an annual basis, the eurozone economy showed growth of 0.6%.
The 6M Euribor decreased with 2 basis points to 3.94% compared to previous business day. The 10Y Swap decreased with 2 basis points to 3.25% compared to previous business day.