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Financial News: European Economics Preview: ECB Monetary Policy Announceme

European Economics Preview: ECB Monetary Policy Announcement Due

03/11/2021 - 00:24:00 (RTTNews)

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

The bank is expected to keep its policy rates and stimulus package unchanged at the second rate-setting meeting of the year. The announcement is due at 7.45 am ET.

ECB President Christine Lagarde is set to hold the customary press conference at 8.30 am ET.

The ECB staff macroeconomic projections are also due. Economists expect a downward revision of growth and an upward revision of inflation forecasts.

Other major reports due for the day are as follows

At 2.00 am ET, current account data is due from Turkey. Economists forecast the current account deficit to fall to $1.62 billion in January from $3.21 billion in December.

At 3.00 am ET, the State Secretariat for Economic Affairs publishes Swiss economic forecasts. In the meantime, foreign trade figures from Hungary and Slovakia are due.

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