Market Information Friday 21 January 2022

The total value of Dutch agricultural exports in 2021 was EUR 104.7 billion. This was published this morning by Statistics Netherlands. Exports increased by EUR 9 billion compared to 2020, thereby exceeding EUR 100 billion for the first time. The Netherlands earned about EUR 46.1 billion from the exports. Of these exports, 26.1% went to Germany, 12% to Belgium, 8% to France and 8% to the United Kingdom (UK). Exports to France rose by 14% and to the UK by 0.4%, making France the Netherlands’ third most important export country for the first time.

China lowered its interbank rate, the Loan Prime Rate (LPR), for the second month in a row. The standard LPR rate was cut from 3.80% to 3.70% and the 5-year LPR went from 4.65% to 4.60%. Earlier this week, the interest rate on a 1-year LPR was also lowered so analysts had been expecting a further cut. Nevertheless, the reduction is notable. The last time China cut its interest rates for two months in a row was almost two years ago.

Annual inflation in the Eurozone reached 5.0% in December 2021, slightly up from November 2021 when it was 4.9%. The main drivers of inflation are energy prices (25.9%) followed by food and alcohol (3.2%) and industrial products (2.9%).

The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap decreased with 1 basis point to 0.40% 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.