Economists at the Bank of America predict that the global economy is growing much less rapidly this year due to the outbreak of the corona virus. Bank of America expects 2.8 percent growth of the global economy, whereas economists predicted 3.1 percent growth previously. The new growth number would be the lowest in more than ten years.
The president of the Federal Reserve, Jerome Powell, announced that the Federal Reserve is ready to respond “appropriately” to the economic impact of the corona virus. According to Powell, the foundations of the American economy are strong, but the virus outbreak is an increasing risk.
The German Federal Statistical Office reports that inflation in Germany is 1.7 percent in February, just like a month earlier. On a monthly basis, German consumer prices rose by 0.4 percent, against a minus of 0.6 percent a month earlier. In addition, the German Federal Labour Office announced that unemployment in Germany remained unchanged in February at 5 percent of the labour force.
The 6M Euribor decreased with 1 basis point to -0.38% compared to previous business day. The 10Y Swap decreased with 4 basis points to -0.18% 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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