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European Economics Preview: Eurozone Interest Rate Announcement Due

ecb sep12 04jun20 lt

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

The ECB is expected to leave its key interest rate, which is the rate on the main refinancing operations, at a record low zero percent. However, economists expect the bank to boost its stimulus further. The announcement is due at 7.45 am ET.

ECB President Christine Lagarde is set to hold a press conference at 8.30 am ET.

At 2.30 am ET, the Federal Statistical Office releases Swiss consumer prices for May. Consumer prices are forecast to fall 1.3 percent on year, after easing 1.1 percent in April.

At 3.00 am ET, April retail sales data from Hungary are due. Sales had increased 3.5 percent on year in March.

At 3.30 am ET, Statistics Sweden publishes industrial production and orders data for April.

At 4.30 am ET, IHS Markit releases UK construction PMI data for May. The score is seen at 29.7 versus 8.2 in the previous month.

At 5.00 am ET, Eurostat publishes euro area retail sales data for April. Economists forecast sales to fall 15 percent on month after easing 11.2 percent in March.

In the meantime, GDP and unemployment figures are due from Greece.

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