The Financial Times reports that European Union member states have cut their gas consumption by almost a quarter. The numbers show that the European Union is successfully reducing its dependence on Russian gas. Research agency Icis shows with data that gas consumption has decreased by 24% compared to the monthly average over the past five years.
Francois Villeroy de Galhau of the French central bank expressed his wish on Sunday that the European Central Bank (ECB) should raise interest rates by another half a percentage point in December to curb inflation, in an interview with TV station LCI. The banker, also a member of the ECB, calls it desirable that the interest rate level be raised to 2% after years of very generous monetary policy. The ECB will decide on interest rates on 15 December.
The Chinese services sector contracted even more in November. This was revealed on Monday by figures from S&P Global. The Purchasing Managers Index was 48.4 in October and fell to 46.7 in November. The purchasing managers index for the Chinese manufacturing industry turned out to have risen from 49.2 in October to 49.4 in November last week, but this still points to contraction. The composite index fell from 48.3 to 47.0.
The 6M Euribor is unchanged at 2.41% compared to previous business day. The 10Y Swap increased with 4 basis points to 2.58% 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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