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European Economics Preview: ECB Monetary Policy Announcement Due

preview oct01 10sep20 lt

The interest rate announcement from the European Central Bank is due on Thursday, headlining a busy 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. No new measures are expected at the meeting. The announcement is due at 7.45 am ET.

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

The ECB will also release staff macroeconomic projections for the euro area.

At 2.00 am ET, Statistics Norway releases consumer and producer prices for August. Inflation is forecast to rise to 1.7 percent from 1.3 percent in July.

At 2.45 am ET, France industrial production data is due. Economists forecast output to grow 5 percent on month in July, slower than the 12.7 percent increase in June.

At 3.00 am ET, the Czech Statistical Office publishes consumer price data for August. Inflation is seen falling to 3.3 percent from 3.4 percent in July. In the meantime, unemployment data is due from Turkey.

Half an hour later, Statistics Sweden releases consumer price data for August. Prices are forecast to grow 0.9 percent on year versus a 0.5 percent rise in July.

At 4.00 am ET, Italy's Istat publishes industrial production figures for July. Economists expect industrial output to grow 3.5 percent on month, but slower than the 8.2 percent rise seen in June.

At 5.00 am ET, consumer prices and unemployment reports are due from Greece.

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