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European Economics Preview: Bank Of England Rate Decision Due


Interest rate announcement from the Bank of England is due on Thursday, headlining a busy day for the European economic news.

At 12.30 am ET, Dutch consumer confidence, spending and unemployment figures are due.

At 2.00 am ET, the Federal Customs Administration releases Swiss foreign trade data. Watch exports figures are also due.

At 3.00 am ET, the Turkish Statistical Institute is slated to issue consumer confidence survey data for June.

At 4.00 am ET, Norges Bank is set to announce its rate decision. The bank is expected to lift its rate to 1.25 percent from 1.0 percent.

In the meantime, the European Central Bank publishes economic bulletin.

Half an hour later, the Office for National Statistics publishes UK retail sales data. Sales are forecast to fall 0.5 percent month-on-month in May, after staying flat in April.

At 7.00 am ET, the Bank of England announces the outcome of its monetary policy committee meeting. The bank is set to hold its key rate at 0.75 percent and quantitative easing at GBP 435 billion. The MPC is likely to stick to its reasonably hawkish stance.

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