European Money Market Rates and ECB Lending Survey: Latest Update and Projections for 2024

2024-01-23 13:41:15

(Photo: picture alliance / blickwinkel/McPHOTO/H. Richter)

The rates on the European money market have shown little change. Investors are waiting for the ECB’s monetary policy decision on Thursday. The ECB’s Lending Survey does not provide any major new insights. Euro area banks tightened their credit standards less than expected in the fourth quarter of 2023, according to the ECB. At the same time, demand for loans fell once more significantly. The results of the quarterly lending report suggested that lending in the euro area will remain weak in 2024. Société Générale economist Anatoli Annenkov meanwhile expects that the ECB will not lower its interest rates until September at the earliest. The demand from banks in the euro area for liquidity from the European Central Bank (ECB) decreased during the one-week main refinancing operation. As the ECB announced, 5.649 billion euros were allocated following 5.864 billion in the previous week at a fixed interest rate of 4.5 percent.

Here is the latest data: daily allowance: 3.80 – 4.15 (3.84 – 4.12), weekly allowance: 3.83 – 4.18 (3.83 – 4.11), 1-month allowance: 3 .81 – 4.23 (3.82 – 4.12), 3-month money: 3.83 – 4.23 (3.81 – 4.15), 6-month money: 3.77 – 4 .17 (3.83 – 4.17), 12-month money: 3.54 – 3.94 (3.50 – 3.85), Euribors: 3 months: 3.9480 (3.9450), 6 Months: 3.9440 (3.9250), 12 months: 3.6650 (3.6720)

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