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European Economics Preview: ECB Monetary Policy Decision Due

preview oct26 20jan21 lt

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

The bank is expected to keep its policy rates and stimulus package unchanged after unveiling a slew of measures at the December meeting. 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.

Other major economic reports due for the day are as follows:

At 2.00 am ET, consumer confidence from Turkey and industrial confidence from Norway are due.

At 2.45 am ET, the French statistical office Insee releases business confidence survey data. The business sentiment index is seen rising to 94 in January from 93 in December.

At 4.00 am ET, Norges Bank announces its interest rate decision.

In the meantime, Italy's Istat publishes industrial orders and turnover data for November. Also, retail sales and gross wages data from Poland is due.

At 6.00 am ET, the Confederation of British Industry issues Industrial Trends survey data for January. The order book balance is forecast to fall to -35 percent from -25 percent in December.

At 7.00 am ET, Turkey's central bank announces its interest rate decision. Economists expect the bank to hold its 1-week repo rate at 17.00 percent.

At 10.00 am ET, the European Commission publishes flash consumer confidence survey results. The euro area consumer sentiment index is seen at -15.0 in January versus -13.9 in December.

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