Market Information Friday 10 February 2023

Consumer prices in the Netherlands inceased less in January than in December. This was revealed on Thursday by figures from Statistics Netherlands (CBS). Last month, the price level increased 7.6 percent year-on-year, after 9.6 percent inflation in December. In October, inflation stood at 14.3 percent and in September it peaked at 14.5 percent.

The number of Americans filing new claims for unemployment benefits increased more than expected last week, but the underlying trend continued to point to a tight labor market. The jobs market has remained resilient despite the Federal Reserve’s interest rate increases. While labor market strength keeps the U.S. central policy on its monetary policy tightening path, it also suggests that a much anticipated recession is less likely.

Bank of England policymakers disagreed on Thursday about interest rate policy to curb inflation. Governor Andrew Bailey stressed the uncertainty of the outlook, a week after the BoE suggested its run of rate hikes might be peaking. Like other central banks, the BoE is trying to reduce the risks from the surge in inflation and it raised interest rates for the 10th time in a row last week, taking the official rate to its highest level since 2008 at 4% from 3.5%. But it is also worried about aggravating what is expected to be a lengthy if shallow recession this year, which most other countries will avoid.

The 6M Euribor increased with 2 basis points to 3.05% compared to previous business day. The 10Y Swap decreased with 4 basis points to 2.85% 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.