Financial News: European Economic News Preview: ECB To Lower Rates

European Economic News Preview: ECB To Lower Rates Again

12/12/2024 - 01:53:00 (RTTNews)

(RTTNews) - The monetary policy announcements from the European Central Bank and the Swiss National Bank are the top events due on Thursday.

The ECB is widely expected to cut its benchmark rates by 25 basis points for the third consecutive meeting, citing weaker economic growth and moderating inflation.

Markets have already priced in a quarter-point cut and the focus has shifted to the communication and staff forecast. The policy statement is due at 8.45 AM ET.

The Swiss National Bank is also seen cutting its interest rate by 25 basis points today. The bank has reduced its rate three times this year. The SNB announces the decision at 3.30 AM ET.

Other economic reports due from Europe are unemployment from Italy and consumer prices from Sweden.

At 2.00 am ET, Statistics Sweden publishes consumer price figures for November. Inflation is seen unchanged at 1.6 percent.

At 4.00 am ET, unemployment data is due from Italy. The jobless rate is forecast to fall to 6.6 percent in the third quarter from 6.8 percent in the prior period.

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