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Financial News: European Economics Preview: BoE Rate Decision Due

European Economics Preview: BoE Rate Decision Due

06/15/2017 - 00:43:00 (RTTNews)

(RTTNews) - The outcome of Bank of England's monetary policy committee meeting is due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, Statistics Norway publishes foreign trade data for May. The trade surplus totaled NOK 22.2 billion in April.

At 2.45 am ET, France's final inflation data is due. Inflation is seen at 0.8 percent in May, unchanged from the flash estimate.

At 3.00 am ET, the Turkish Statistical Institute is slated to issue unemployment data for March. The jobless rate is forecast to drop to 12 percent in March from 12.6 percent in February.

At 3.15 am ET, Swiss producer and import prices are due. Economists expect producer and import prices to climb 0.2 percent annually in May, following a 0.8 percent rise in April.

At 3.30 am ET, the quarterly monetary policy assessment of the Swiss National Bank is due. The bank is expected to keep the rate on sight deposits unchanged at -0.75 percent and the target range for the three-month Libor between -1.25 percent and -0.25 percent.

At 4.30 am ET, the Office for National Statistics releases UK retail sales figures for May. Sales are forecast to fall 0.8 percent on month, reversing a 2.3 percent rise in April.

At 5.00 am ET, Eurostat publishes euro area trade data for April. The trade surplus is forecast to fall to EUR 22 billion in April from EUR 23.1 billion in March.

At 7.00 am ET, the BoE is expected to to keep its monetary policy unchanged at the first policy meeting held after Prime Minister Theresa May lost the Conservative parliamentary majority at the June 8 general election.

Policymakers are forecast to unanimously decide to hold the interest rate at a record low 0.25 percent and the quantitative easing at GBP 435 billion.

In the meantime, Turkey's central bank announces its interest rate decision. The bank is forecast to keep its 1-week repo rate at 8.00 percent.

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