The latest figures from the Reserve Bank of Australia’s interest rate decision show that Australia’s central bank is raising the policy rate to 0.35%. This decision is in response to rising inflation and rising wages which has sufficiently demonstrated the resilience of the Australian economy. It is expected that Australia will have an unemployment rate of 3.5% in early 2023, which will be the lowest in 50 years.
The price of a barrel WTI oil rose to USD 105.34 in anticipation of the new sanctions the European union is preparing. The European commission is expected to announce the new sanctions against Russia later today these will likely include a ban on buying oil from Russia.
After European stock markets already opened with losses on Monday, they lost even more after a flash crash took place in the Nordic countries around 10 am. The OMX Stockholm 30 index lost almost 8% in 5 minutes but managed to recover in short time. According to a spokesman for the Nasdaq Stockholm, the cause of the crash was not a technical glitch but a large transaction.
The 6M Euribor increased with 1 basis point to -0.23% compared to previous business day. The 10Y Swap increased with 4 basis points to 1.76% 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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