Market Information Monday 23 March 2020

According to Rabobank economists, the effect on the Dutch economy may remain limited despite the far-reaching social and economic consequences of the corona crisis. Rabobank economists expect a decline of 0.2% this year. In doing so, they assume that the corona outbreak will come under control during the second quarter, so that the economy can return to normal from the third quarter.

The outlook for US unemployment figures for the next month is ominous. An Oxford Economics survey predicts 10% unemployment in the US by the end of April. That would amount to more than 16 million unemployed. The American Restaurant Association, trade union for the hospitality industry, assumes from 5 million to 7 million unemployed, in the hospitality sector.

Norway’s central bank cuts interest rates again to assist the economy during the corona crisis. Interest rates are reduced by 0.75 percentage points to 0.25 percent, the lowest level ever. The Norwegian central bank also announced an interest rate cut last week.

The 6M Euribor increased with 1 basis point to -0.35% compared to previous business day. The 10Y Swap decreased with 9 basis points to 0.07% 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.