The central bank of Norway, Norges Bank, decreased its most important interest rate by 25 basis points to 0 percent on Thursday. This is the third interest rate cut by Norges Bank in two months. Analysts expected the interest rate policy to remain unchanged. In addition, the central bank predicts a 5.2% contraction of the Norwegian economy over 2020 as a result of the corona crisis and the continuing pressure on oil prices. Around mid-March, Norges Bank predicted a small growth of the Norwegian economy of 0.4% over 2020.
Figures published by the US Department of Labor on Thursday show that 3.2 million Americans have claimed social assistance benefits in the past week. That is a decrease compared to last week, when the number of unemployed increased by 3.9 million. Economists expected 3.0 million new unemployed. Since the beginning of the corona crisis, approximately 33.5 million Americans have now claimed social assistance benefits.
New figures published by Statistics Netherlands on Friday show that industrial production in the Netherlands decreased by 2.5 percent in March 2020 compared to March 2019. In February 2020, industrial production shrank by 1.3 percent compared to February 2019. On a monthly basis, production decreased by 1.0 percent in March 2020 compared to February 2020.
The 6M Euribor increased with 3 basis points to -0.14% compared to previous business day. The 10Y Swap decreased with 3 basis points to -0.14% 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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