European Economics Preview: Bank Of England Monetary Policy Announcement Due

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The monetary policy announcement and the quarterly economic and inflation projections are due from the Bank of England on Thursday.

The central bank is expected to keep its interest rate unchanged near zero, avoiding a reduction to negative territory at the February meeting. The bank is also set to maintain the size of quantitative easing at GBP 895 billion. The announcement is due at 7.00 am ET.

Other major economic reports due for the day are as follows

At 1.45 am ET, Switzerland’s State Secretariat for Economic Affairs publishes consumer sentiment survey results.

At 3.00 am ET, December retail sales data is due from Hungary. Sales had fallen 0.8 percent in November.

Half an hour later, IHS Markit releases Germany’s construction Purchasing Managers’ survey results.

At 4.00 am ET, the European Central Bank publishes economic bulletin.

At 4.30 am ET, UK IHS Markit/CIPS construction PMI data is due. The index is seen at 52.9 in January versus 54.6 in December.

At 5.00 am ET, Eurostat is scheduled to issue euro area retail sales data for December. Sales are forecast to grow 1.6 percent on month, reversing a 6.1 percent drop in November.

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

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