Market Information Wednesday 23 April 2025

The International Monetary Fund has revised its forecast for the U.S. economy in 2025 to an expected growth of 1.8 percent, marking a significant reduction of 0.9 percentage points from the previous projection. Due to rising rates, the IMF anticipates a global slowdown in economic expansion, with Mexico being particularly affected, as it is now expected to experience a contraction of 0.3 percent in 2025, whereas earlier projections indicated a growth of 1.4 percent.

Preliminary data from the European Commission indicate that consumer confidence in the eurozone in April dropped to its lowest level in eighteen months. The index fell from -14.5 in March to -16.7 in April, pushing confidence further below the long-term average.

Spain is advancing an ambitious program for defense expenditure, aiming to meet the NATO standard of 2% of GDP within this year. The government led by Prime Minister Pedro Sánchez has announced plans to invest an additional € 10.5 billion over the next eight months. The investment includes € 3.5 billion earmarked for improving salaries and working conditions for military personnel.

The 6M Euribor is unchanged at 2.15% compared to previous business day. The 10Y Swap decreased with 4 basis points to 2.46% 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.