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Financial News: European Economics Preview: ECB Rate Decision Due

European Economics Preview: ECB Rate Decision Due

07/24/2019 - 23:49:00 (RTTNews)

(RTTNews) - The interest rate decision from the European Central Bank is the major event due on Thursday.

The ECB is expected to signal interest rate cut soon as the economic outlook deteriorates further. The Governing Council of the ECB is set to retain its main refi rate at a record low zero percent and the deposit rate at -0.40 percent. The rate decision is due at 7.45 am ET.

At 8.30 am ET, ECB President Mario Draghi holds customary press conference.

At 2.00 am ET, Statistics Norway is scheduled to publish unemployment data. The jobless rate is forecast to rise slightly to 3.3 percent in May from 3.2 percent in April.

At 3.00 am ET, the National Institute of Economic Research publishes Sweden's economic tendency survey data. The economic confidence indicator is seen at 97.5 in July versus 98.1 in June.

Half an hour later, Statistics Sweden is set to release unemployment data. The jobless rate is forecast to remain unchanged at 6.8 percent in June.

At 4.00 am ET, Germany's Ifo business confidence survey results are due. The business climate index is seen at 97.2 in July versus 97.4 in June.

At 7.00 am ET, Turkey's central bank announces its rate decision. Economists forecast the bank to cut its rate sharply to 21.5 percent from 24.00 percent.

For comments and feedback: contact editorial@rttnews.com

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