The Dutch government has decided to increase the output of the coal power plants . By doing so, the Netherlands has declared the first level of a gas crisis. As a result of this decision, CO2 emissions will increase in the coming period and the government will have to find other measures to compensate for the extra emissions. According to the Minister for Climate and Energy, there is no shortage in the short term and the Netherlands is currently filling the gas storage above the European standard. The intention remains to close the gas fields in Groningen in 2023 or 2024, but if the energy supply is at risk, more gas can be obtained from Groningen.
The ECB said on Monday that the European workforce is expected to grow by roughly 0.2% to 0.8% in the medium to long run, caused by the Ukrainian refugee crisis. Due to new rules from Brussels, employers do not have to do any extra administrative work to hire Ukrainians, so that they can start working on the European market faster.
After European stocks ended slightly in the green on Monday, European stocks opened higher today. Wall Street closed its doors yesterday due to the celebration of Juneteenth, which resulted in a quiet trading day for European stocks. However, tension in the market is expected to continue for a while as long as inflation is not under control.
The 6M Euribor increased with 4 basis points to 0.29% compared to previous business day. The 10Y Swap increased with 9 basis points to 2.52% 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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