The Dutch minister of finance, Jeroen Dijsselbloem, announced this week that The Netherlands will contribute USD 1.03 billion to the establishment of the Asian Infrastructure Development Bank. The new bank will serve as an equivalent to the World Bank and the Asian Development Bank. China initiated the establishment and would like to use the bank for investments in the development of sea and land infrastructure in Asia.
The European ministers of foreign affairs announced that the economic sanctions against Russia will be extended with 6 months starting next Monday. In a response Russia said that they will also extend their current counter measures. In July 2014 the EU decided to impose, a few days after the MH17 takedown. Russia responded with sanctions on European agriculture products.
The US Federal Reserve is moving towards an interest rate rise later this year. The FED said that current conditions in the labour market and inflation do not yet warrant an increase. In a press conference yesterday, chairwoman Janet Yellen said that most policy makers are anticipating a rate increase this year. She added that once rates will rise, increases will be gradual.
The 6M Euribor remained unchanged at 0.05%. The 10Y Swap decreased with 3 basis points to 1.14%.
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