European Economic News Preview: BoE & SNB To Raise Key Rates
21 Settembre 2023 - 3:36AM
RTTF2
The Bank of England and the Swiss National Bank are widely
expected to make a final quarter-point rate hike after the US
Federal Reserve decided to keep the benchmark rate unchanged on
Wednesday.
The Bank of England is set to end its tightening cycle with a
final quarter point rate hike on Thursday as inflation slowed to an
18-month low in August. Markets expect policymakers to lift the
bank rate to 5.50 percent in a three-way split vote. The
announcement is due at 7.00 AM ET.
The Swiss National Bank is also likely to raise its benchmark
rate by 25 basis points to 2.00 percent. The SNB has raised its
rate over the last five consecutive meetings. The SNB announces its
quarterly policy decision at 3.30 AM ET.
Sweden central bank as well as Norges Bank also publishes its
monetary policy decision on Thursday. Both banks are forecast to
lift the key interest rates by 25 basis points. Riksbank announces
its decision at 3.30 am ET and Norges Bank releases the outcome of
the meeting at 4.00 AM ET.
Other major economic reports due are public sector finances from
the UK and business sentiment from France.
At 2.00 am ET, the Office for National Statistics releases
public sector finance data for August. The budget deficit is
forecast to widen to GBP 9.8 billion from GBP 3.48 billion in
July.
At 2.45 am ET, France's statistical office INSEE publishes
monthly business sentiment survey data. The business confidence
index is forecast to rise to 97 in September from 96 in August.
At 10.00 am ET, the European Commission is set to release euro
area consumer sentiment survey data. The confidence index is
forecast to fall to -16.5 in September from -16.0 in August.
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