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European Economics Preview: ECB Monetary Policy Announcement Due

preview1 sept20 10dec20 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 unveil a package of stimulus measures and to leave its key interest rate, which is the rate on the main refinancing operations, at a record low zero percent. The announcement is due at 7.45 am ET.

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

Major economic reports due for the day are as follows:

At 2.00 am ET, the Office for National Statistics releases UK GDP, industrial output and foreign trade figures. The economy is forecast to grow 0.4 percent on month in October, following a 1.1 percent rise in September.

The UK visible trade deficit is seen at GBP 9.6 billion in October versus -GBP 9.35 billion in September. Industrial production is expected to gain 0.3 percent versus a 0.5 percent rise in the previous month.

At 2.45 am ET, the French statistical office Insee is slated to release industrial production data for October. Economists forecast industrial output to grow 0.4 percent month-on-month, slower than the 1.4 percent increase in September.

At 3.00 am ET, consumer price data is due from the Czech Republic. Inflation is seen at 2.8 percent in November compared to 2.9 percent in October.

At 3.30 am ET, Statistics Sweden is set to issue consumer price data for November. Economists forecast inflation to slow to 0.2 percent from 0.3 percent in October.

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

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