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European Economic Preview: SNB Rate Decision Due

European Economic Preview: SNB Rate Decision Due

The Swiss National Bank's monetary policy decision is the only major event due on Thursday, headlining a light day for the European economic news.

At 3.15 am ET, the Federal Statistical Office is slated to release Swiss producer and import prices for August. Producer and import prices are forecast to fall 0.7 percent year-on-year, following a 1.8 percent fall in July.

At 3.30 am ET, the Swiss National Bank is set to announce its monetary policy decision. The bank is expected to retain the exchange rate cap at CHF 1.20 per euro and the near-zero interest rate.

In the meantime, Statistics Sweden is slated to issue consumer price data for August. Annual inflation is seen rising to 0.9 percent from 0.7 percent in July.

Italy's statistical office Istat is scheduled to publish final inflation figures for August at 4.00 am ET. In the meantime, the European Central Bank is set to publish monthly bulletin.

At 5.00 am ET, Eurozone labor cost figures are due. Economists forecast labor costs to rise 1.6 percent year-on-year after rising 2 percent in the first quarter.

by RTT Staff Writer

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