Market Information Friday 15 April 2022

Yesterday the European Central Bank announced it will not change its key interest rates. The deposit rate thus remains at negative 0.50 percent, the policy rate at 0.00 percent and the penalty rate at 0.25 percent. The decision is in line with previous announcements and minutes that the ECB intended to leave interest rates unchanged. In addition, it was reconfirmed that monthly purchases from the bond purchase program will be EUR 40 billion in April, EUR 30 billion in May and EUR 20 billion in June. The purchases will be discontinued in the third quarter.

The World Steel Association (WSA) expects steel demand to continue to rise in the remainder of 2022 and into 2023. Steel prices already peaked last month due to the Ukraine war. The WSA expects steel demand to rise 0.4 percent this year to 1,840 million tons. In 2023, steel demand will continue to grow, but by 2.2 percent to over 1,881 million tons.

Between March 2 and April 9, 185,000 initial jobless claims were filed in the United States. The number of new claims unexpectedly rose sharply by 18,000 from a week earlier. Analysts had taken into account a slight increase of 5,000. The number of applications does continue to hover around the lowest point in over 50 years.

The 6M Euribor decreased with 1 basis point to -0.33% compared to previous business day. The 10Y Swap increased with 9 basis points to 1.57% 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.