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European Economics Preview: Bank Of England Monetary Policy Decision Due

preview oct03 04aug22 lt

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

The BoE is expected to raise its benchmark rate by 50 basis points to 1.75 percent, combat high inflation and the cost of living crisis. The bank is scheduled to issue the monetary policy summary and the minutes to the monetary policy committee meeting at 7.00 am ET.

Other statistical reports for the day are as follows

At 2.00 am ET, Destatis is slated to issue Germany's factory orders for June. Economists forecast orders to fall 0.8 percent on month, reversing a 0.1 percent rise in May.

At 3.30 am ET, S&P Global releases Germany's construction Purchasing Managers' survey data for July.

At 4.30 am ET, UK S&P/CIPS construction PMI data is due. The index is forecast to fall to 52.0 in July from 52.6 in June.

At 8.30 am ET, Czech National Bank announces its interest rate decision. The bank is set to hold its key rate at 7.00 percent.

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