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European Economics Preview: ECB Rate Decision In Focus

European Economics Preview: ECB Rate Decision In Focus
5/3/2012 1:56 AM ET

The interest rate decision from the European Central Bank is the major event that is set to dominate the scene on Thursday.

Hungary's statistical office is scheduled to release final trade data for February. In the meantime, Turkey's consumer and producer price figures are due. Turkish annual inflation is forecast to rise to 10.97 percent in April from 10.43 percent in March.

At 4.30 am ET, U.K. CIPS/Markit services PMI is due. Economists forecast the indicator to fall to 54.1 in April from 55.3 a month ago.

The French government aims to raise a maximum of EUR 8 billion from OAT auction. The results are due at 4.50 am ET.

At 5.00 am ET, Eurostat is slated to publish producer price data for March. Eurozone producer price inflation is seen slowing to 3.4 percent in March from 3.6 percent in February.

The Czech National Bank is set to announce its interest rate decision at 7.00 am ET. The interest rate is expected to remain at 0.75 percent.

At 7.45 am ET, the European Central Bank is slated to announce its rate decision. The central bank is set to hold fire at the policy meeting to be held in Barcelona. The Governing Council led by ECB President Mario Draghi is expected to maintain the main refi rate at a record low 1 percent.

Draghi is set to hold a regular post-decision press conference at 8.30 am ET.

by RTT Staff Writer

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