Market Information Tuesday 6 September 2022

Statistics Netherlands announced today that inflation in the Netherlands rose to 12.0% year-on-year in August. In July, the inflation rate was still 10.3%. The largest contributor to this increase is energy, which was 151% more expensive than a year earlier. The price of motor fuels saw a slight decline to a higher price of 16.7% compared to a year earlier, where in July this was still a price increase of 24.6%.

The value of the euro against the U.S. dollar fell yesterday to below 0.99 which is the lowest point in 20 years. One of the main factors of this decline is the announcement that the Russian Gazprom will indefinitely stop the supply of gas to Europe through the Nord Stream 1 pipeline.

The group of oil exporting countries, OPEC+, has announced that they will cut oil production to 100,000 barrels per day in October. With this they are trying to stabilize the international price after it has been under pressure lately due to the corona measures in China that are depressing demand, among other things. On a weekly basis, the price for a barrel of WTI fell 7% last week.

The 6M Euribor increased with 5 basis points to 1.29% compared to previous business day. The 10Y Swap increased with 10 basis points to 2.51% 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.