A new forecast from the International Monetary Fund (IMF) states the global economy will grow more slowly this year than expected. In particular, the expectations for the United States and China have been revised downwards. In October, the IMF still assumed growth of 4.9% for this year in its World Economic Outlook, which has now been adjusted to 4.4%.
Singapore’s central bank tightened its monetary policy settings in its first out-of-cycle move in seven years, as global supply constraints and brisk economic demand elevate inflation pressures across the region. The city-state’s trade-dependent economy is highly susceptible to swings in global inflation and the central bank’s sudden move comes as price pressures ring alarm bells for policymakers elsewhere in Asia.
Britain’s government looks firmly on track to borrow less this tax year than forecast but surging inflation will soon curb any leeway for finance minister Rishi Sunak who is under pressure to ease a cost-of-living squeeze. Borrowing for the 2021/22 financial year so far – April to December – is so far running almost 13 billion pounds below the forecasts used by Sunak in his budget planning at 146.8 billion pounds.
The 6M Euribor is unchanged at -0.52% compared to previous business day. The 10Y Swap increased with 5 basis points to 0.40% 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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