Two former traders of Rabobank have been found guilty of manipulating Libor by the court in New York. Tom Hayes, a former trader with Citigroup and RBS, has been sentenced to 14 years in prison by a British judge earlier this year. Rabobank already paid EUR 774 million in total to Dutch, US and UK regulators for manipulating Libor and Euribor.
Yesterday the European Commission published the autumn 2015 economic forecast. According to the forecast, the Dutch economy will grow at an annual rate of 2% this year. That is an increase compared with the EC’s forecast of 1.6% in May 2015. Domestic demand is strengthening as a result
of rising nominal income and low inflation.
Yesterday, the Bank of England’s (BoE) Monetary Policy Committee kept the benchmark rate at 0.5%. In an interview with Bloomberg, Mark Carney, the governor of the BoE, said that Britons should be ready for a rate increase in 2016. It would be the first increase in more than eight years.
The 6M Euribor remained unchanged at 0.00%. The 10Y Swap decreased with 3 bp to 0.95%.
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