Market Information Wednesday 17 July 2024

U.S. import prices were unchanged in June as lower energy costs offset a rebound in food prices, supporting the view that inflation is decreasing which may allow the Federal Reserve to cut interest rates in September. Over the past 12 months, import prices rose by 1.6%, while export prices fell by 0.5% in June.

The IMF predicts modest global growth over the next two years, with slowing disinflation momentum potentially delaying interest rate cuts and maintaining strong dollar pressure on developing economies. The IMF kept its 2024 global growth forecast at 3.2%, noting risks from weak U.S. consumption, China’s property sector issues, and potential policy shifts from upcoming elections.

Euro zone households are increasingly applying for loans for the first time in two years, driven by optimism about the economy and falling interest rates, according to an ECB survey. The survey also noted that banks eased mortgage conditions due to stronger competition, while tightening access to consumer credit and corporate loans.

The 6M Euribor decreased with 2 basis points to 3.64% compared to previous business day. The 10Y Swap decreased with 5 basis points to 2.69% 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.