Market Information Tuesday 18 January 2022

The UK’s Office for National Statistics has published the unemployment figures. The UK unemployment rate was 4.1% in the three months to November, seasonally adjusted. This rate is 0.4% lower than in the three prior months. Compared to the unemployment rate in the period before the corona crisis, it is higher, given that the unemployment rate then was 4.0%.

The Bank of Japan has raised inflation estimates as the country faces supply chain disruptions. According to the bank, there will be a trend in the economic recovery with a temporary increase in prices. In parallel with supply disruptions, the bank also forecasts an upward price effect due to rising energy prices and telephone tariffs compared to 2021. In the quarterly outlook, the bank now assumes a 1.1% increase in prices for next year. It also revises the growth estimate for the current year with an expected growth of 2.8% where 3.4% was first expected without the disruption in the supply chain.

Japanese manufacturing experienced a big surge in November with a 7.0% increase in production month-on-month, and 5.1% year-on-year. This is below expectations of 7.2% on a monthly basis, and according to expectations on an annual basis.

The 6M Euribor is unchanged at -0.53% compared to previous business day. The 10Y Swap increased with 1 basis point to 0.40% 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.