Britain’s budget deficit increased to GBP 208.5 billion (€ 228 billion) in the first half of the fiscal year that began in April. Th deficit is mainly caused by the high expenditure to support the economy during the corona crisis. The government expects the budget deficit to reach GBP 372 billion for the entire fiscal year. This equates to approximately 19.0% of the UK’s gross domestic product (GDP). Britain’s public debt has now increased to over GBP 2 trillion.
As of today European Brexit negotiator Michel Barnier is welcome in London to resume discussions on a free trade agreement. The British government decided last Friday to end the talks with Brussels as the EU was not willing to compromise. Now that negotiations are resumed, a trade deal will need to be arranged as per mid-November. Without the deal, quotas and import duties for mutual trade will be imposed from January 1, 2021.
Consumer confidence in The Netherlands turned slightly more pessimistic in October 2020. Consumer confidence fell to a score of minus 30, compared to a score of minus 28 in September 2020, as reported by Statistics Netherlands (CBS), based on their monthly measurement.
The 6M Euribor is unchanged at -0.50% compared to previous business day. The 10Y Swap increased with 1 basis point to -0.26% 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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