Market Information Monday 12 September 2022

Last week’s interest rate increase by the European Central Bank (ECB) will only provide temporary support to the euro. After the increase of 75 basis points by the ECB, the euro/dollar exchange rate went to 1.01 dollar, however it is suspected that this will be temporary. Furthermore, the ECB is expected to raise interest rates again in October.

The number of bankruptcies in the Netherlands has remained stable last month, according to numbers from Centraal Bureau voor de Statistiek (CBS). In recent years, the number of bankruptcies has fluctuated between 110 and 200 per month, with a peak in May 2020 when the corona pandemic started in the Netherlands. Since this peak, the number of bankruptcies has remained relatively low.

Dutch exports continue to grow, but at a lower pace. This is apparent from the figures of the Centraal Bureau voor de Statistiek (CBS) for the month of July. Exports rose 1.3 percent year-on-year in July, after a gain of 3.9 percent in June and 2.9 percent in May. The CBS states that conditions for exports in September are even less favourable than those in July.

The 6M Euribor decreased with 1 basis point to 1.35% compared to previous business day. The 10Y Swap decreased with 1 basis point to 2.53% 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.