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Financial News: European Economics Preview: ECB Rate Decision Due

European Economics Preview: ECB Rate Decision Due

01/23/2020 - 00:10:00 (RTTNews)

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

At 2.00 am ET, Statistics Norway is slated to issue unemployment data for November. The jobless rate is forecast to remain unchanged at 3.8 percent.

In the meantime, consumer confidence survey data from Turkey is due.

At 3.30 am ET, Statistics Sweden releases unemployment data for December. The jobless rate had climbed to 6.8 percent in November from 6.0 percent in October.

Half an hour later, Norges Bank announces its policy rate decision. Economists expect the bank to hold its benchmark rate at 1.50 percent.

In the meantime, Poland's retail sales data is due. Sales are forecast to grow 7.3 percent on year in December, faster than the 5.9 percent rise in November.

At 7.45 am ET, the ECB announces the outcome of the governing council meeting, in Frankfurt. No change is forecast for ECB interest rates, asset purchases and forward guidance.

At 8.30 am ET, ECB Chief Christine Lagarde is set to hold a press conference. Lagarde is set to announce the official start of the strategy review in her second policy meeting, a process which was undertaken last in 2003.

At 10.00 am ET, Eurozone flash consumer confidence survey data is due. The sentiment index is expected to rise to -7.8 in January from -8.1 in December.

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