The CPB reported on Thursday that in a worst-case scenario, the Dutch economy will decrease by 7.7 percent as a result of the corona virus. In this scenario, the current restrictions last for six months or more. In the worst case, unemployment will rise to 8.4 percent in 2021, compared to 2.9 percent in February 2020. In the most positive scenario, where the current constraints last three months, the economy will shrink by 1.2 percent and unemployment will rise to 4.0 percent.
New figures from Insee, the national statistics office in France, show that French business confidence fell to 95 points in March, from 105 points in February. Insee further reports that economic production decreased by about a third in March. Consumer spending is also at 65 percent of the normal level.
The Bank of England has decided not to cut interest rates any further. On March 11 and March 19, the UK central bank already cut interest rates by 50 and 15 basis points respectively, to 0.1 percent. In addition, the previously announced 200 billion pounds buy-back program remains unchanged.
The 6M Euribor increased with 1 basis point to -0.30% compared to previous business day. The 10Y Swap decreased with 6 basis points to 0.06% 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.
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