Klaas Knot of De Nederlandsche Bank told on Sunday, in the TV program WNL op Zondag, that the European Central Bank will raise interest rates by 50 basis points at least twice. “There is a real chance that we can avoid a recession, both for the eurozone and the global economy.” There has also not been a quarterly contraction in the eurozone yet. In the Netherlands, there was a contraction, namely in the third quarter, but according to Knot that was more of a correction to the growth in the second quarter.
Existing owner-occupied homes became more expensive on an annual basis in December, however the increase is becoming smaller and there was a further decline on a monthly basis. This is evident from figures from Statistics Netherlands and the Register. Prices in the Netherlands rose by 2.7 percent on an annual basis in December. That is the lowest increase in more than 7 years. Compared to November, prices fell by 2.3 percent in December. That’s the biggest drop in 10 years.
Producer prices in Germany fell again slightly on a monthly basis in December. This appeared on Friday from figures from Destatis, the German statistical office. On a monthly basis, prices fell 0.4 percent in December. In November, the decrease was 3.9 percent and in October, 4.2 percent.
The 6M Euribor increased with 3 basis points to 2.86% compared to previous business day. The 10Y Swap increased with 9 basis points to 2.74% 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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