The Turkish central bank decreased the main interest rate due to the impact of the coronavirus. The main interest rate decreases by 1.0% to 9.75%. Special measures will be taken to ensure that Turkish banks always have enough money at hand.
The US-bank Goldman Sachs expects the Chinese economy to decrease by 9% in the first quarter, burdened by the coronavirus outbreak. In a previous forecast, Goldman expected China’s economy to increase by 2.5%. For 2020, the bank expects the Chinese economy to increase by 3%.
The international trade association IATA warns that airlines are running out of cash. According to IATA, three quarters of all airlines have enough cash to continue to pay all unavoidable fixed costs for a maximum of three months. IATA estimates that governments worldwide will have to make additional payments of USD 150 up to 200 billion to absorb shortfalls.
The 6M Euribor increased with 3 basis points to -0.37% compared to previous business day. The 10Y Swap increased with 2 basis points to -0.05% 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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