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Financial News: European Economics Preview: ECB Rate Decision Due

European Economics Preview: ECB Rate Decision Due

10/26/2017 - 01:52:00 (RTTNews)

(RTTNews) - The European Central Bank is set to announce the outcome of its governing council meeting on Thursday. The bank is widely expected to reveal tapering plans and keep key rates unchanged.

At 2.00 am ET, Germany's market research group GfK is scheduled to publish consumer sentiment survey results. The forward-looking index is seen unchanged at 10.8 in November.

In the meantime, Norway's unemployment data is due. The jobless rate is forecast to remain stable at 4.2 percent in August.

At 3.00 am ET, unemployment figures are due from Spain and Hungary. Spain's jobless rate is forecast to fall to 16.6 percent in the third quarter from 17.22 percent in the second quarter.

At 3.30 am ET, Riksbank is set to announce its interest rate decision. The bank is expected to hold its key rate at -0.50 percent.

In the meantime, producer prices and foreign trade figures are due from Statistics Sweden.

At 4.00 am ET, Norges Bank publishes the outcome of its executive board meeting. Economists forecast the bank to retain its deposit rate at 0.50 percent.

In the meantime, Italy's Istat is scheduled to issue business and consumer confidence survey results.

At 6.00 am ET, the Confederation of British Industry releases Distributive Trades survey data.

At 7.45 am ET, the ECB is set to release the result of the rate-setting meeting in Frankfurt. The bank is expected to keep its refi rate at zero percent and the deposit rate at -0.4 percent.

The announcement will be followed by a press conference, at 8.30 am ET. ECB Chief Mario Draghi is expected to outline a gradual reduction in asset purchase programme.

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