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European Economics Preview: ECB Rate Decision Due


Monetary policy announcement from the European Central Bank is due on Thursday, headlining a light day for the European economic news.

The European Central Bank is expected to maintain its refi rate at 0.00 percent and the deposit rate at -0.4 percent. The outcome of the governing council meeting is due at 7.45 am ET.

At 8.30 am ET, ECB President Mario Draghi holds customary press conference following the governing council meeting at its premises in Frankfurt.

At 2.00 am ET, Germany's GfK consumer confidence survey data is due. The forward-looking consumer sentiment index is seen at 10.5 in November versus 10.6 in October.

In the meantime, Norway's unemployment data is due. Economists forecast the jobless rate to remain unchanged at 4 percent in August.

At 3.00 am ET, producer prices from Spain and economic tendency survey results and producer prices from Sweden are due. The economic confidence index is expected to drop to 111.0 in October from 111.7 in September.

At 4.00 am ET, Germany's Ifo business sentiment survey data is due. Economists forecast the business climate index to fall to 103.2 in October from 103.7 in September.

Norway's central bank is set to announce its rate decision at 4.00 am. The bank is forecast to keep its rate unchanged at 0.75 percent.

At 7.00 am ET, Turkey's central bank interest rate decision is due. Economists expect the bank to hold its repo rate at 24.0 percent.

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