The European Central Bank raised the official interest rate by 75 basis points on Thursday in response to skyrocketing inflation in the eurozone, which reached 9.1% in August. According to its latest estimates, the ECB expects inflation to reach 8.1% in 2022. In 2023, inflation will fall to 5.5%. The European Central Bank will do whatever it takes to bring inflation back around the 2% target, so interest rates will continue to be raised in next policy meetings. This was the message of President Christine Lagarde on Thursday in her explanation of the interest rate decision of the ECB.
The oil price rose on Thursday. At a settlement of USD 83.54, the price of a barrel of West Texas Intermediate increased almost 2%.
Consumer prices in China unexpectedly slowed in August. This was shown Friday by figures from the Chinese statistical office. On an annual basis, prices rose by 2.5%, after a rise of 2.7% in July and 2.5% in June.
The 6M Euribor increased with 2 basis points to 1.36% compared to previous business day. The 10Y Swap increased with 10 basis points to 2.54% 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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