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


The interest rate announcement from the Bank of England is due on Thursday, headlining a busy day for the European economic news.


At 2.45 am ET, France Insee publishes monthly manufacturing confidence survey data for December. The manufacturing sentiment is seen at 99 versus 100 in November.


At 3.30 am ET, Riksbank is set to announce its monetary policy decision. Sweden's central bank is expected to raise its interest rate to zero percent from -0.25 percent.


At 4.00 am ET, Norges Bank issues policy rate decision and the monetary policy report. Economists expect the bank to hold the rate at 1.50 percent.


In the meantime, industrial production and producer prices from Poland are due.


Economists forecast industrial output to fall 1.3 percent on year, reversing a 3.5 percent rise in October. Producer prices are expected to increase 0.2 percent on year.


At 4.30 am ET, the Office for National Statistics is scheduled to release UK retail sales for November. Economists expect retail sales to grow 0.2 percent on month, reversing a 0.1 percent fall in October.


At 6.00 am ET, the Confederation of British Industry is slated to issue monthly distributive trades survey results. The retail sales balance is seen at -4 percent in December versus -3 percent in November.


At 7.00 am ET, the Bank of England is set to announce the outcome of its monetary policy committee meeting as well as the minutes. The bank is expected to hold its key rate at 0.75 percent and asset purchase plan at GBP 435 billion.




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