European Economics Preview: ECB Set To Hold Key Rates

The governing council of the European Central Bank is set to leave its interest rates unchanged at the meeting in Frankfurt on Thursday.

Retail sales and public sector finance from the U.K. are other statistical reports due on Thursday.

At 2.00 am ET, Switzerland's foreign trade data is due. The trade surplus is seen unchanged at CHF 3.79 billion in June.

At 2.45 am ET, the French statistical office Insee is scheduled to issue manufacturing confidence data. Economists expect the index to fall to 101 in July from 102 in June.

At 4.30 am ET, the Office for National Statistics is set to publish U.K. retail sales and public sector finance data. Sales are forecast to drop 0.6 percent on a monthly basis in June reversing a 0.9 percent rise in May.

The U.K. budget deficit is seen narrowing to GBP 9.5 billion in June from GBP 9.7 billion in May.

At 7.45 am ET, the ECB is widely expected to keep its key refi rate unchanged at 0 percent and the deposit rate at -0.4 percent.

At 8.30 am ET, ECB President Mario Draghi is set to hold his customary press conference.

by RTT Staff Writer

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