Statistics Netherlands has reported that inflation in the Netherlands in 2019 amounted to 2.6%. This is the highest level since 2002. The strong increase was largely caused by the increase in the low VAT rate (from 6% to 9%) and the increase in energy tax. Measured by the harmonized European method, the inflation rate for the Netherlands in 2019 was 2.7%. This means that the Netherlands had the second highest inflation rate in the Eurozone, after Slovakia.
A new report from the World Bank shows that the world economy is expected to grow at a lower rate in 2020 than previously expected. The growth forecast for 2020 was adjusted from 2.7% to 2.5%. However, growth is expected to be stronger than in 2019 (2.4%). World trade is expected to grow by 1.9%, compared to 1.4% in 2019.
President of the European Commission Ursula von der Leyen indicated in a speech in London that she does not expect the EU and the UK to reach an all-comprehensive agreement on their future relationship in 2020. According to Von der Leyen, there is not enough time for a full agreement, and priorities will have to be set.
The 6M Euribor increased with 1 basis point to -0.32% compared to previous business day. The 10Y Swap increased with 4 basis points to 0.15% 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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