European Economics Preview: ECB Monetary Policy Announcement Due

July 16, 2020

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

The ECB is expected to leave its key interest rate, which is the rate on the main refinancing operations, at a record low zero percent. No new measures are expected at the meeting. The announcement is due at 7.45 am ET.

ECB President Christine Lagarde is set to hold customary press conference at 8.30 am ET.

At 2.00 am ET, the Office for National Statistics is slated to issue UK labor market statistics. The jobless rate is forecast to rise to 4.2 percent in three months to May from 3.9 percent in three months to April.

In the meantime, the European Automobile Manufacturers’ Association publishes Europe’s new car registrations data for June.

At 2.45 am ET, France’s statistical office Insee is scheduled to issue final consumer prices for June. According to preliminary estimate, inflation eased to 0.1 percent, which was the lowest since May 2016.

At 4.00 am ET, Italy’s foreign trade data for May is due. The trade deficit totaled EUR 1.15 billion in April.

In the meantime, Bank of England’s credit conditions survey data is due.

At 5.00 am ET, Eurostat releases euro area foreign trade data for May. The trade surplus totaled EUR 2.9 billion in April.

The material has been provided by InstaForex Company – .

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