The Bank of England (BoE) policy committee will meet today. Analysts expect that it may be announced that the buy-back program will be phased out gradually. Thanks to a rapid vaccination policy, the British economy appears to be on the way of recovery. According to analysts from ING, within a year it will become really interesting. It is expected that the BoE will start to tighten and Governor Andrew Bailey has already announced that this will not only be about interest rate hikes, but that the central bank will also reduce part of the bond portfolio.
Economic activity in the services sector in the United States increased substantially in April, according to figures from Markit Economics published yesterday. The purchasing managers index was 64.7, compared to 60.5 in March. An index position of more than 50 indicates growth.
As of today, employers in the Netherlands can apply for a contribution towards wage costs from Employee Benefit Schemes (UWV) for the fifth time based on the Dutch “Emergency Employment Scheme”. The application is valid for the months of April to June and can only be made with a loss of turnover of at least 20%. To date, more than EUR 14 billion has been paid in compensation for wage costs.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.11% 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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