The Chinese central bank (PBoC) comes to the aid of companies located in the area affected by the coronavirus. The national bank makes CNY 300 billion, or EUR 39 billion, available to banks in order to be able to provide money to companies in order to maintain liquidity. In addition, loans granted to affected companies cannot be withdrawn and the central bank argues that banks should lower interest rates. Furthermore, companies are given more time from the regulator before figures for 2019 and the first quarter of 2020 have to be published. Small businesses in particular must be spared, says PBoC.
Figures from research firms Markit and Caixin show that activity in the Chinese industry grew slightly less in January. The data does not yet include the impact of the coronavirus outbreak. The purchasing managers’ index recorded a level of 51.1 against 51.5 in December. A position of 50 or more indicates growth, below 50 indicates shrinkage. Macroeconomic figures from China are expected to deteriorate considerably in the coming period due coronavirus outbreak.
Based on preliminary figures, Statistics Netherlands (CBS) reports that the growth in the export value of Dutch export to the United Kingdom is lagging for the third year in a row. In 2019, the value of Dutch goods exports to the UK was 40 billion euros. That is 0.5% less than a year earlier. In 2015, exports to the UK accounted for 8.7% of total Dutch goods exports. Four years later, with the British leaving the EU, this has fallen to 7.7%.
The 6M Euribor is unchanged at -0.34% compared to previous business day. The 10Y Swap decreased with 2 basis points to -0.05% 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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