The Eurozone economy increased by 0.2% in the second quarter compared to the previous quarter, according to final figures of Eurostat. Employment in the eurozone also increased by 0.2% in the past quarter compared to the first quarter.
The Chinese central bank announced on Friday that it will further ease its monetary policy. This implies that banks will hold fewer capital reserves. The central bank’s goal is to stimulate the domestic economy, which is struggling with headwind due to the trade war. The so-called reserve ratio for all banks will be reduced by 0.5% as of 16 September. This will result in more liquidity, which in turn makes it easier for Chinese consumers and businesses to secure credit.
The Central Bank of Russia (CBR) decreased its interest rates for the third time in a row on Friday. The interest rate was lowered by 0.25%, to 7.0%. This brings the interest rate to the lowest level since March 2004. Russia is suffering from slow economic growth and weakening inflation.
The 6M Euribor increased with 1 basis point to -0.43% compared to previous business day. The 10Y Swap decreased with 5 basis points to -0.21% 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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