The Chinese Ministry of Finance has announced that China will increase tariffs on USD 60 billion of American goods to 25% from 1 June 2019. The increase is a reaction to the recently increased tariffs on Chinese goods by the United States. President Trump warned China that tariff increases would be counterproductive and that United States’ consumers are not willing to pay for the price increase.
The Organization for Economic Cooperation and Development (OECD) stated that economic growth has decreased for various large economies. According to the OECD, growth has decreased for the United States, Japan, Canada, the United Kingdom and the eurozone. In addition, the OECD reports stable growth in China, India and Russia, while there is increased growth in Brazil.
Based on definitive figures, the German federal statistics agency has stated that year-on-year inflation in Germany was 2.0% in April 2019. In March 2019, inflation was 1.3%. Based on the European harmonized method, inflation was 2.1%.
The 6M Euribor is unchanged at -0.23% compared to previous business day. The 10Y Swap decreased with 3 basis points to 0.45% 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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