Market Information Tuesday 21 December 2021

The Dutch economy grew by 4.5% this year. The economy has thus recovered well from the corona recession of 2020. For 2022, the DNB is hoping for a 3.6% increase in GDP, and for 2023 it is taking into account a lower increase of 1.7%. The Dutch Bank does indicate that these figures do not yet take into account the strict lockdown that is now in place. Inflation has increased by 2.7% in this year, and this is expected to be 3.0% in 2022. Unemployment will also rise to 3.5% in 2022, according to the DNB, where it experienced an increase to 3.3% this year.

The Dutch consumer spent 8.5% more in October this year than in October of the previous year. This means that the spending of Dutch consumers has already increased for four months in a row. Last month, spending on services (restaurant, hairdresser, subscriptions) was up as much as 12.2%.

Oil prices fell sharply Monday due to concerns about possible corona measures and lockdowns by countries. A barrel of West Texas Intermediate was down 3%, and stood at a settlement of USD 68.61.

The 6M Euribor is unchanged at -0.55% compared to previous business day. The 10Y Swap increased with 3 basis points to 0.13% 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.