European Economics Preview: European Central Bank Policy Decision Due

The monetary policy announcement from the European Central Bank is the major event due on Thursday. At the governing council meeting in Frankfurt, policymakers of the ECB are forecast to keep its interest rates and asset purchases unchanged. The announcement is due at 7.45 am ET.

The bank is also expected to give more clarity about how it wants to implement the new strategy on inflation targeting. Early this month, the bank had indicated that negative and positive deviations of inflation from the 2 percent target are equally undesirable.

ECB President Christine Lagarde is set to hold the press conference at 8.30 am ET.
Other economic reports due for the day are as follows:

At 2.00 am ET, industrial confidence survey data from Norway and consumer sentiment from Denmark are due.

At 2.45 am ET, France’s statistical office Insee is slated to issue manufacturing confidence data. The manufacturing sentiment index is seen unchanged at 107 in July.

At 6.00 am ET, the Confederation of British Industry publishes quarterly Industrial Trends survey data for July. The order book balance is forecast to fall to 16 percent from 19 percent in June.

The material has been provided by InstaForex Company – www.instaforex.com