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European Economics Preview: ECB, BoE Decisions In Focus

European Economics Preview: ECB, BoE Decisions In Focus

The European Central Bank and the Bank of England are set to announce their monetary policy decisions later today, headlining a busy day for the European economic news.

At 1.45 am ET, the State Secretariat for Economic Affairs is slated to issue Swiss unemployment data. The jobless rate is forecast to remain unchanged at seasonally adjusted 3.1 percent in February.

The French trade data is due at 2.45 am ET. The trade deficit is expected to narrow to EUR 4.7 billion in January from EUR 5.34 billion in December.

Hungary's preliminary industrial output data is due at 3.00 am ET. Economists expect output to fall 0.8 percent annually in January, following a 3.4 percent drop in December.

Half an hour later, Statistics Netherlands is scheduled to publish inflation figures for February. Annual inflation is seen at 2.9 percent, down from 3 percent in January.

At 4.00 am ET, Italy's producer prices and Norway's industrial production figures are due.

Spain plans to raise EUR 4 billion to EUR 5 billion from the issue of securities maturities on October 2015, January 2018 and January 2023. The results are due at 4.30 am ET.

At 6.00 am ET, the Federal Ministry of Economics and technology is set to issue German factory orders for January. Orders are expected to rise 0.6 percent month-on-month in January after increasing 0.8 percent in December.

At 7.00 am ET, the Bank of England is slated to announce the results of the monetary policy meeting. The nine-member committee is expected to maintain quantitative easing at GBP 375 billion and the interest rate at a record low 0.50 percent.

At 7.45 am ET, the European Central Bank is set to announce its interest rate decision. The central bank is seen holding its key interest rate at 0.75 percent. ECB President Mario Draghi will hold a regular press conference at 8.30 am ET.

by RTT Staff Writer

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