European Economic News Preview: ECB Monetary Policy Announcement Due
14 Settembre 2023 - 3:45AM
RTTF2
The monetary policy announcement from the European Central Bank
is the major event due on Thursday.
Markets widely expect the ECB to hike the key rate by a final
quarter point today. However, such a move raises the risk of
recession in the currency bloc.
The ECB has raised rates by a cumulative 375 basis points with
hikes in every policy session of the current tightening cycle that
began in July last year. At the last meeting in July, the main
refinancing rate, or refi, was lifted by 25 basis points to 4.25
percent.
The governing council of the ECB releases the statement at 8.15
am ET and ECB President Christine Lagarde is set to hold the press
conference at 8.45 am.
The ECB will also publish staff macroeconomic projections today,
at 9.45 am ET.
Consumer prices from Sweden and producer prices from Switzerland
are the other economic reports due on Thursday.
At 2.00 am ET, Statistics Sweden releases consumer prices for
August. Consumer price inflation is forecast to slow to 4.9 percent
from 6.4 percent in July.
At 2.30 am ET, the Federal Statistical Office is set to issue
Swiss producer and import prices for August. Producer and import
prices had declined 0.6 percent on a yearly basis in July.
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