European Economics Preview: ECB, BoE Rate Decisions On Focus

European Economics Preview: ECB, BoE Rate Decisions On Focus




Outcome of the monetary policy meetings of the Bank of England and the European Central Bank are the major events that are set to dominate the scene on Thursday.
At 1.45 am ET, Swiss consumer sentiment is due. Consumer confidence is forecast to improve to -22 in January from -24 in the prior quarter.
Statistics Netherlands is set to issue January consumer prices at 3.30 am ET. Annual inflation is expected to rise to 2.6 percent from 2.4 percent in December.
The Office for National Statistics is scheduled to issue U.K. industrial output figures at 4.30 am ET. Industrial output is expected to grow 0.2 percent month-on-month in December, following a 0.7 percent drop in November.
In the meantime, external trade figures from U.K. are due. The visible trade deficit is seen at GBP 8.6 billion in December compared to GBP 8.64 billion in November.
The BoE is widely expected to lift the size of quantitative easing by GBP 50 billion to GBP 325 billion. The interest rate is seen unchanged at a record low of 0.50 percent. The announcement is due at 7.00 am ET.
The European Central Bank is set to announce its decision at 7.45 am ET. Economists widely expect policymakers to maintain the rate at 1.00 percent. ECB President Mario Draghi is set to hold a the regular post-decision press conference at 8.30 am ET.


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