E.U Economics Preview: Bank Of England Rate Announcement Due




The Bank of England is set to announce its interest rate decision on Thursday, headlining a hectic day for the European economic news.


The BoE is widely expected to maintain its benchmark interest rate at 0.75 percent and the quantitative easing at GBP 435 billion at the final meeting of Mark Carney as BoE Governor.


The bank announces the outcome and release the minutes of the meeting and quarterly Monetary Policy Report at 7.00 am ET. At 7.30 am, Carney speaks at the press conference.


Other major economic reports due on Thursday are unemployment and flash inflation from Germany, and economic confidence and unemployment from euro area.


At 2.00 am ET, Germany's labor force survey data is due from Destatis.


At 3.00 am ET, Swiss KOF leading indicator is due. The index is expected to rise to 97.0 in January from 96.4 in December.


At 3.55 am ET, the Federal Employment Agency publishes Germany's unemployment data. The number of people out of work is forecast to rise 5,000 in January after increasing 8,000 in December.


At 5.00 am ET, EU releases euro area economic and business confidence survey results. Economists forecast the economic sentiment index to rise to 102 in January from 101.5 in December.


In the meantime, Eurostat is scheduled to issue December unemployment data. The jobless rate is seen unchanged at 7.5 percent.


At 8.00 am ET, Germany's flash inflation data for January is due. Inflation is expected to rise to 1.7 percent from 1.5 percent in December.




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