Consumer prices in the Netherlands rose sharply again on an annual basis in June, but, just as in May, at a lower pace than in the previous month, according figures published by Statistics Netherlands (CBS). The CBS publishes two different figures for inflation. One based on the consumer price index (CPI) and one based on the harmonized index of consumer prices (HICP). According to the CPI calculation method, inflation in June was 8.6%, whereas in May it was 8.8%. Based on the HICP calculation method, prices were 9.9% higher in June than a year earlier, up from 10.2% in May. Eurozone inflation did increase from 8.1% percent in May to 8.6% in June.
The price of oil has fallen again. Wednesday’s closing price of a barrel of West Texas Intermediate (WTI) was 1.0% lower at the end of the day than at the beginning of the day. On Tuesday, the price fell significantly, by 8.0%. The price of a barrel of WTI now stands at USD 98.53. Analysts attributed the decline to growing fears that aggressive monetary tightening by the Federal Reserve and other major central banks could push the global economy into recession.
Last night, the minutes of the June 15 Federal Reserve meeting were released. These show a commitment to continuing to raise the federal funds rate, despite the risks to economic growth. Officials also concluded that an increase of 50 or 75 basis points would likely be appropriate at the next meeting. The next meeting is scheduled for July 27.
The 6M Euribor decreased with 1 basis point to 0.23% compared to previous business day. The 10Y Swap decreased with 5 basis points to 2.02% 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.
Managed by Sluijmer Multimedia and hosted by True.