The market calms down ahead of the Fed’s statement this evening.
In 2016 Dutch government runs first surplus since financial crisis
In 2016, the Dutch government ran a budget surplus of approximately 3 billion euros or 0.4%of GDP, its first surplus since the 2008 financial downtime, as Statistics Netherlands revealed on Friday.
The news might play a role in negotiations as Prime Minister Mark Rutte tries to organize a new centre-right coalition after March 15 elections, which saw support for current junior partner Labor reduced.
Potential partners in the new coalition are backing spending increases on healthcare as well as environment.
The CBS told that net debt edged down to 62.3% of GDP, following the surplus, which is close to the limit of 60% specified by eurozone rules.
The agency told that the shocking surplus came from an ascend in revenues after several years of accelerating surge, and not any spending restrictions.
Growth actually shows up in corporate taxes with a delay. It’s because losses from previous years are deducted from revenues, as the agency informed in a review of 2016.
Follow Canadian core retail sales on September 18 at 15:30 MT time!
The US dollar gained after the Fed’s report, while riskier assets dropped. Let’s have a closer look.
Keep an eye on the UK monetary policy statement on September 17 at 14:00 MT time!