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Financial News: European Economics Preview: ECB Rate Decision Due

European Economics Preview: ECB Rate Decision Due

01/25/2018 - 00:55:00 (RTTNews)

(RTTNews) - The interest rate announcement from the European Central Bank is due on Thursday, headlining a busy day for the European economic news.

The ECB is expected to hold its main refi rate at a record low zero percent and the deposit rate at -0.40 percent. The announcement is due at 7.45 am ET.

ECB President Mario Draghi is set to hold the customary post-decision press conference 8.30 am ET in Frankfurt. He is likely to signal a dovish stance.

At 2.00 am ET, Germany's GfK consumer confidence data is due. The forward-looking sentiment index is forecast to remain unchanged at 10.8 in February.

In the meantime, Statistics Norway releases unemployment data. The jobless rate is expected to remain at 4 percent in November.

At 3.00 am ET, the National Institute of Economic Research releases Sweden's economic tendency survey results. The corresponding index is seen at 112.3 in January versus 112.5 in December.

Half an hour later, producer prices and unemployment figures are due from Statistics Sweden. The jobless rate is forecast to rise to 6.1 percent in December from 5.8 percent in November.

At 4.00 am ET, Germany's Ifo business confidence survey results are due. Economists expect the business sentiment index to fall to 117 in January from 117.2 in December.

In the meantime, Norges Bank announces the outcome of its monetary policy meeting. The bank is set to hold its key rate at 0.50 percent.

At 6.00 am ET, the Confederation of British Industry releases Distributive Trades survey results. The retail sales balance is seen at 13 percent in January versus 20 percent in December.

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