After a rapid recovery of the Dutch economy following the Corona crisis, economic growth will be practically stagnant for the rest of this year, according to new economic estimates from the Dutch Central Bank. Inflation is expected to reach 8.7% in 2022 compared to 2.8% last year. In addition, DNB expects growth to reach 2.8% in 2022 compared to 5.0% a year earlier. Due to the ongoing uncertainty surrounding the conflict between Russia and Ukraine, DNB has also prepared a new scenario in which uncertainty and energy prices will remain at a high level for longer. In this scenario, gross domestic product will increase by 0.8% less than estimated and inflation will even rise to 11%.
Oil production in Libya was almost completely halted on Monday due to a political crisis. The crisis caused almost all ports and oil fields to be closed. Only a single oil field in the southwest is still active which has led to daily oil production falling by over 90% compared to last year.
The Japanese industry produced less in April, according to figures released today by Japan’s Ministry of Trade and Industry. On a monthly basis, a decline of 1.5% was seen and on a yearly basis, production fell by 4.9%.
The 6M Euribor increased with 2 basis points to 0.08% compared to previous business day. The 10Y Swap increased with 17 basis points to 2.37% 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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