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European Economics Preview: ECB Monetary Policy Announcement Due


The monetary policy announcement from the European Central Bank is due on Thursday, headlining a light day for the European economic news. The ECB is set to keep its key interest rates unchanged amid surging inflation and uncertainties from the war in Ukraine. The main refinancing rate is seen unchanged at zero, the deposit rate at -0.50 percent and the marginal lending rate at 0.25 percent.

The central bank is set to unveil the outcome of its governing council meeting in Frankfurt, at 7.45 am ET, and President Christine Lagarde holds press conference at 8.30 am ET.

Other economic reports due for the day are as follows:

At 2.00 am ET, Statistics Sweden publishes consumer prices for March. Inflation is expected to climb to 5.6 percent from 4.3 percent in February.

Half an hour later, Swiss producer price data is due.

At 4.30 am ET, the Bank of England publishes Credit Conditions Survey results. At 7.00 am ET, Turkey’s central bank announces its monetary policy decision. The bank is expected to hold its one-week repo rate at 14.00 percent.

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