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European Economics Preview: ECB Likely To Hold Key Rates

European Economics Preview: ECB Likely To Hold Key Rates

Outcome of the monetary policy meeting of the European Central Bank is set to dominate the scene on Wednesday.

Ireland's March services PMI is due at 2.00 am ET. The seasonally adjusted purchasing managers' index for the service sector increased to 53.3 in February from 48.3 in January.

The Czech Statistical Office is scheduled to issue retail sales figures at 3.00 am ET. Retail sales growth is seen falling to 1 percent in February from 1.3 percent a month ago.

At 3.45 am ET, Italy's services PMI is due. The French services PMI for March, due at 3.50 am ET, is seen at 50, unchanged from flash estimate.

Eurozone final composite and services PMI figures are due at 4.00 am ET. The composite output index is seen at 48.7, in line with flash estimate.

Eurozone retail sales data is due at 5.00 am ET. Retail sales are expected to dip 0.2 percent month-on-month after rising 0.3 percent in January.

At 6.00 am ET, the Federal Ministry of Economy and Technology is set to issue German factory orders for February. Economists forecast orders to grow 1.5 percent month-on-month after easing 2.7 percent in January.

The National Bank of Poland is slated to announce its interest rate decision at 7.00 am ET. Economists expect the central bank to hold its base rate at 4.5 percent.

The European Central Bank is set to announce its decision at 7.45 am ET. Economists widely expect policymakers to maintain the rate at 1.00 percent. ECB President Mario Draghi is set to hold a the regular post-decision press conference at 8.30 am ET.

by RTT Staff Writer

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