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European Economics Preview: ECB Rate Decision Due

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The Governing Council of the European Central Bank is set to announce the policy decision on Thursday, headlining a light day for the European economic news. The bank is widely expected to announce fresh stimulus measures to rev up the euro area economy.

The bank is likely to cut the deposit facility rate by 10 basis points to -0.50 percent. The announcement is due at 7.45 am ET. President Mario Draghi will hold his customary press conference at 8.30 am ET.

At 2.00 am ET, Germany's final consumer prices for August are due. According to preliminary estimate, consumer prices rose 1 percent annually.

At 2.45 am ET, France's Insee publishes final inflation data for August. The statistical office is expected to confirm 1.1 percent inflation.

At 5.00 am ET, Eurostat releases July industrial production figures. Eurozone industrial production is expected to drop 0.1 percent on month after easing 1.6 percent in June.

At 7.00 am ET, Turkey's central bank is set to announce its interest rate decision. The bank is expected to slash the rate massively to 17 percent from 19.75 percent.

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