European Economic News Preview: BoE, SNB Set To Lift Rates

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The monetary policy announcements from the Bank of England and the Swiss National Bank are the major events due on Thursday.

Despite the recent turbulence in the banking sector, the Bank of England is expected to raise its benchmark rate by a quarter-point after official data showed an unexpected acceleration in inflation in February. The announcement is due at 8.00 AM ET.

The Swiss National Bank is widely expected to hike its policy rate by 50 basis points, matching the European Central Bank's decision last week. The SNB is set to tighten its policy for the fourth straight time, despite heightening concerns over the financial market strength. The SNB releases the statement at 4.30 am ET.

Elsewhere, Norges Bank announces its monetary policy decision at 5.00 am ET. The bank is set to hike the rate by 25 basis points to 3.00 percent.

Other economic reports due for the day are flash consumer confidence from the euro area and unemployment from Poland.

At 5.00 am ET, unemployment data is due from Poland. Economists expect the jobless rate to remain unchanged at 5.5 percent in February.

At 11.00 am ET, Eurozone flash consumer confidence survey results are due. The index is seen rising to -18.3 in March from -19 in February.

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