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European Economics Preview: BoE, SNB Monetary Policy Announcements Due

preview oct17 21sep22 lt

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

The Monetary Policy Committee of the BoE is expected to raise the benchmark rate for the seventh straight month. Markets expect at least a 50 basis-point rate hike after the U.S. Federal Reserve raised its key rate by 75 basis points on Wednesday. The BoE releases the monetary policy summary and the minutes at 7.00 am ET.

The Swiss National Bank is widely expected to lift its interest rate to positive territory today. The interest rate is likely to be raised by 75 basis points to -0.50 percent from -0.25 percent. The announcement is due at 3.30 am ET.

Other economic reports due for the day are as follows

At 2.45 am ET, the French statistical office Insee publishes business confidence survey results. The business sentiment index is seen at 102 in September versus 104 in August.

At 3.00 am ET, the Turkish Statistical Institute releases consumer confidence data. In the meantime, unemployment figures are due from Hungary.

At 4.00 am ET, Norges Bank announces it monetary policy decision. The bank is forecast to lift the key rate to 2.25 percent from 1.75 percent.

At 7.00 am ET, Turkey's central bank releases the outcome of its monetary policy meeting. The bank is set to hold its key one-week repo rate at 13.00 percent.

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