European Economics Preview: ECB Rate Decision Due
03 September 2015 - 11:58AM
RTTF2
Interest rate decision from the European Central Bank is due on
Thursday, headlining a busy day for the European economic news.
At 3.00 am ET, retail sales figures from Hungary and Czech
Republic are due. Hungary's retail sales are forecast to grow 5.8
percent year-on-year in July after increasing 6.2 percent in June.
Annual growth in Czech retail sales is seen slowing to 7.2 percent
in July from 11.1 percent a month ago.
In the meantime, consumer and producer prices are due from
Turkey. Turkey's inflation is seen at 6.82 percent in August.
At 3.30 am ET, Sweden's central bank is scheduled to announce
its interest rate decision. The bank is expected to maintain its
key rate at -0.35 percent.
Final services PMI figures are due from France at 3.50 am ET and
Germany's data at 3.55 am ET. At 4.00 am, Markit releases final PMI
for Eurozone. The euro area composite PMI is expected to match the
flash estimate of 54.1.
At 4.30 am ET, U.K. CIPS/Markit services PMI is due. Economists
forecast the index to rise to 57.7 in August from 57.4 in July.
Half an hour later, Eurostat is set to publish Eurozone retail
sales figures for July. Sales are forecast to grow 0.5 percent
month-on-month in July reversing a 0.6 percent fall in June.
At 7.45 am ET, the European Central Bank is slated to announce
the outcome of the governing council meeting. The bank is expected
to keep its refinancing rate unchanged at 0.05 percent.
Thereafter, ECB President Mario Draghi is set to hold customary
press conference at 8.30 am ET.
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