Manufacturing production in the Netherlands was in June 3.6% higher compared to the same month a year earlier. The strongest growth was realized by the pharmaceutical sector with 13.8% and transport equipment manufacturing sector with 10.2%. The chemical industry is the only sector that contracted; production declined by 2.5%.
Manufacturing production in Germany declined by 1.4% in June compared to May. Economists expected a growth of 0.3%. In comparison to June last year, production increased by 0.6%. In addition to the decline in manufacturing production, export in June decreased by 1% compared to May. Economists expected a decrease of 0.3%.
Based on a report by the Bank of England (BoE) that was released on Thursday, it is not expected that the central bank of the United Kingdom (UK) will increase its official bank rate this year. The expected inflation for this year is reduced from 0.6% to 0.3%. Due to the low inflation in the UK, the BoE does not see reason to raise its interest rate in the near future. Since March 2009, the official bank rate is 0.5%.
The 6M Euribor remained unchanged at 0.05%. The 10Y Swap decreased with 3 bp to 1.05%.
In the attachment below, today’s market data on money and capital market rates as well as other rates are presented. For more history of these rates or other rates feel free to ask: firstname.lastname@example.org.
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