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European Economics Preview: ECB Rate Decision Due


The European Central Bank is forecast to keep its main interest rates unchanged at its meeting on Thursday.

The ECB is expected to hold its main refi rate at a record low zero percent and the deposit rate at -0.40 percent. The announcement is due at 7.45 am ET.

The governing council is also not expected to make any change to the policy statement.

Following the meeting of the Governing Council in Frankfurt, ECB President Mario Draghi will hold his customary press conference at 8.30 am ET.

At 1.45 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss unemployment data. The jobless rate is forecast to drop to 2.9 percent in February from 3 percent in January.

At 2.00 am ET, Germany's factory orders data is due. Economists forecast orders to fall 1.8 percent on month in January, reversing a 3.8 percent rise in December.

In the meantime, industrial production data is due from Norway.

At 2.30 am ET, Bank of France is set to publish business sentiment survey results. The business confidence index is seen falling to 104 in February from 105 in January.

At 3.00 am ET, consumer price data is due from Hungary. Inflation is forecast to ease to 2 percent in February from 2.1 percent in January.

At 5.00 am ET, Greece unemployment data is due for December. The jobless rate stood at 20.9 percent in November.

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