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European Economics Preview: ECB Rate Decision Due

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The interest rate announcement from the European Central Bank is due on Thursday, headlining a busy day for the European economic news.

The European Central Bank is set to leave its monetary policy unchanged in the first meeting chaired by its new chief, Christine Lagarde. The main refi rate is at a record low zero percent, and the deposit rate is at -0.50 percent. The marginal lending facility rate is at 0.25 percent.

The ECB is also expected to leave stimulus measures unchanged, and reaffirm its forward guidance, following the Governing Council session. Lagarde will also be unveiling the latest set of ECB staff macroeconomic projections for Eurozone.

The policy announcement is due at 7.45 am ET and Lagarde is set to make her first post-decision press conference at 8.30 am ET.

At 1.45 am ET, the State Secretariat for Economic Affairs, or SECO, releases Swiss Winter economic forecasts.

At 2.00 am ET, Destatis publishes Germany's revised inflation data. The statistical office is expected to confirm 1.1 percent inflation for November.

At 2.30 am ET, the Federal Statistical Office is slated to release Swiss producer and import prices for November. Prices are forecast to fall 2.2 percent annually after easing 2.4 percent in October.

At 2.45 am ET, France's Insee publishes final inflation data for November. Inflation is seen at 1 percent, in line with flash estimate.

At 3.30 am ET, the Swiss National Bank is set to announce its rate decision. The bank is expected to maintain its sight deposit rate at -0.75 percent.

In the meantime, Sweden's unemployment data is due. Economists forecast the jobless rate to rise to 6.3 percent in November from 6 percent in October.

At 5.00 am ET, Eurostat releases euro area industrial production for October. Output is seen falling 2.4 percent on year, following a 1.7 percent drop in September.

At 6.00 am ET, Turkey's central bank announces its rate decision. The bank is expected to cut its key rate to 12.50 percent from 14.00 percent.

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