Market Information Monday 18 December 2023

In the third quarter of 2023, labor costs in the eurozone increased by 5.3% year-on-year, and in the EU by 5.7%, according to Eurostat. Croatia showed the largest rise of 16.3%, followed by Hungary and Bulgaria. Belgium saw a rise of 7.9%, while the increase in the Netherlands was 6.4%.

S&P Global released preliminary data for December on the eurozone and the UK. The eurozone experienced a drop in the services sector index to 48.1, below the expected 48.2. The industrial index remained steady at 44.2. The UK exhibited economic growth with a rise in the services sector index to 52.7 and a composite index of 51.7, surpassing the predicted 51.0.

The People’s Bank of China injects 1.45 trillion yuan (approximately 200 billion euros) into the economy, as announced by the Chinese central bank. The interest rate remains at 2.5%. The injection includes one-year loans, bolstering the economy by 800 billion yuan, comprising of 650 billion yuan in medium-term loans. Additionally, short-term loans of 50 billion yuan were issued at a 1.8% interest rate, adding to the existing 197 billion yuan under that loan.

The 6M Euribor decreased with 1 basis point to 3.94% compared to previous business day. The 10Y Swap decreased with 10 basis points to 2.49% 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.