Last week was dominated by central banks that adjusted interest rates. The central banks of the United States, the United Kingdom, Sweden and Switzerland raised interest rates. The Bank of Japan chose to keep interest rates unchanged. In Turkey, on the other hand, interest rates were lowered despite an inflation rate of over 80 percent. This week, no central bank meetings have been planned.
The pound reached an all-time low against the dollar after the UK’s finance minister Kwasi Kwarteng announced new budget plans. He aims to cut taxes significantly. Some describe the all-time low as a flash-crash, the markets are bracing for more declines.
In a letter, Milieudefensie (Friends of the Earth Netherlands) informs that accountancy firms should check more closely for climate risks at large companies in The Netherlands. Climate risk should become a key focus of controls. This mainly concerns the large polluting companies that, according to the organization, are doing too little to achieve the climate goals set in Paris.
The 6M Euribor decreased with 1 basis point to 1.76% compared to previous business day. The 10Y Swap increased with 8 basis points to 2.85% 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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