The European Union does not allow cryptocurrencies as a payment method until the risks, rules and supervision are properly established and addressed. This is described in a joint statement from EU Finance Ministers. According to these Ministers, without legal measures there are huge risks with cryptocurrency for consumers and investors, but also for financial and monetary stability.
Credit rating agency Moody’s has decreased its expectations for the global banking sector. Moody’s stated that the outlouk goes from stable to negative, because of the weaker state of the global banking sector due to lower economic growth and interest rate developments.
Based on definitive figures from Eurostat, the eurozone economy increased by 0.2% in the third quarter compared to the second quarter in line with the first estimate. The gross domestic product (GDP) in the third quarter increased by 1.2% compared to previous year.
The Chinese department of Trade reported that China and the United states are maintaining close contact regarding a partial trade agreement between the countries. Tariffs must be decreased proportionally to come to a partial trade agreement. The agreement was planned for November 2019. If there is no agreement before December 15th, additional tariffs will be levied on Chinese goods.
The 6M Euribor decreased with 1 basis point to -0.34% compared to previous business day. The 10Y Swap increased with 2 basis points to 0.11% 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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