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European Economics Preview: ECB Monetary Policy Announcement Due

preview oct12 09jun21 lt

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

The main refi rate is expected to be retained at a record low zero percent. Markets expect the bank to maintain its current asset purchase programme and to avoid any tapering talk.

The outcome of the governing council meeting of the ECB is due at 7.45 am ET.
After the meeting, ECB Chief Christine Lagarde holds the press conference in Frankfurt at 8.30 am ET.

Other economic reports due for the day are as follows:

At 2.00 am ET, Statistics Norway publishes consumer and producer prices for May. Inflation is expected to slow marginally to 2.9 percent from 3 percent in April.

At 2.45 am ET, France industrial output data is due. Economists forecast production to climb 0.5 percent on month, slower than the 0.8 percent increase in March.

At 3.00 am ET, consumer prices from the Czech Republic and industrial production from Slovakia are due. The Czech inflation is seen at 3.2 percent in May versus 3.1 percent in April.

Half an hour later, Statistics Sweden publishes consumer price figures for May. Economists expect inflation to ease to 2 percent from 2.2 percent in April.

At 4.00 am ET, Italy's industrial production data is due. Production is expected to climb 0.3 percent on month in April, reversing a 0.1 percent fall in March.

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