Market Information Friday 28 October 2022

The European Central Bank raised interest rates by 75 basis points on Thursday, as expected. The 75 basis point increase raises the main refinancing operations and interest rates for the marginal lending facility and the deposit facility to 2.00, 2.25 and 1.50%, respectively, starting from 2 November 2022.The ECB already signaled that more interest rate hikes are coming.” Inflation is still far too high and will remain above target for an extended period,” the ECB said.

Denmark’s central bank raised its key interest rate by 0.60 percentage points to 1.25% on Thursday to its highest level in thirteen years, following a rate hike earlier in the day by the European Central Bank. Denmark, the first country in the world to impose negative rates in 2012, last month broke with a decade-long experiment of negative interest rates as it lifted its key rate into positive territory. Denmark’s main interest rate is now at its highest level since August 2009.

The US economy grew by 2.6% on a quarterly basis in the third quarter, as reported in the US government’s first estimate on Thursday afternoon, versus an expected growth of 2.3%.

The 6M Euribor decreased with 1 basis point to 2.10% compared to previous business day. The 10Y Swap decreased with 13 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.