Market Information Friday 20 January 2023

Japanese exports rose 11.5% year-on-year last month against 20.0% in November, but there was a marked slowdown in growth again in December. This was revealed by government figures on Thursday. Exports to the United States rose 16.9% and to Europe by 27.0%, but exports to China fell 6.2% in December. Japanese imports also rose in December, by 20.6%. The trade deficit decreased to 1,448 billion yen, versus an expected deficit of 1,653 billion yen.

Unemployment in the Netherlands decreased in December, figures from Statistics Netherlands showed on Thursday. The number of unemployed stood at 352,000 in December 2022, which is 3.5% of the labour force and 0.1 percentage point lower than in October. Over the past three months, the number of unemployed fell by an average of 10,000 per month.

The Norwegian central bank Norges Bank left interest rates unchanged at 2.75% on Thursday. High inflation and interest rates are weakening households’ purchasing power, and many companies expect a fall in business. A windfall is that energy prices are falling harder than anticipated, and global inflationary pressures appear to be easing somewhat, the central bank said. Still, Norges Bank thinks interest rates need to rise slightly to get inflation to the desired level, but that a more gradual approach to interest rates may be appropriate.

The 6M Euribor decreased with 5 basis points to 2.83% compared to previous business day. The 10Y Swap increased with 5 basis points to 2.65% 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.