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European Economics Preview: ECB Rate Decision Due


The European Central Bank is set to announce its interest rate decision on Thursday. The bank is widely expected to keep its key rates unchanged.

At 2.00 am ET, Destatis is slated to release Germany's industrial output data for July. Economists forecast production to grow 0.6 percent on month, reversing a 1.1 percent fall in June.

At 2.45 am ET, the French foreign trade data is due for July. The deficit totaled EUR 4.66 billion in June.

At 3.00 am ET, industrial production data is due from Hungary and Denmark.

At 3.30 am ET, Riksbank is set to announce Sweden's interest rate decision. The bank is expected to keep its repo rate unchanged at -0.50 percent.

At 5.00 am ET, Eurostat releases euro area final GDP data for the second quarter. According to preliminary estimate, the economy expanded 0.6 percent sequentially.

In the meantime, Greece unemployment data is due for June. In May, the jobless rate was 21.7 percent.

At 7.45 am ET, the ECB announces the outcome of its governing council meeting. The bank is expected to keep its refi rate at zero percent and the deposit rate at -0.4 percent.

The announcement will be followed by a press conference, at 8.30 am ET. ECB Chief Mario Draghi is expected to design the groundwork for tapering.

by RTTNews Staff Writer

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