The European Union (EU) is committed to use “all available instruments” to limit the effects of the coronavirus, EU-president Michel announced after a conference call with the EU-leaders. European Commission president Ursula von der Leyen stated that an investment fund will be set up of EUR 25 billion, of which EUR 7.5 billion will be available on short notice. In addition, rules concerning state aid and budget deficits will be more leniently applied.
Statistics Netherlands reported that the daily production of the Dutch Industry increased by 0.3% in January 2020 compared to January 2019. The production of machines increased the most, by 15%. For more than half of the enterprise categories production fell in the same time span. Compared to December 2019, production increased by 3.1%.
The Chinese statistics bureau stated that core inflation in China has increased by 1% in February 2020 compared to February 2019, the lowest level since 2010. Especially the coronavirus has influenced the inflation rate, due to a lower demand for goods and services. Food and energy prices are not included in core inflation. Including these categories, inflation was 5.2% on a year-on-year basis, one of the reasons being the increased prices of pork due to the African swine fever.
The 6M Euribor increased with 1 basis point to -0.42% compared to previous business day. The 10Y Swap increased with 6 basis points to -0.25% 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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