European Economics Preview: BoE, SNB Expected To Hold Interest Rates

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Thursday, the interest rate decision from the Bank of England and Swiss National Bank are in focus.

In the Monetary Policy Committee meeting, the Bank of England is widely expected to hold the interest rate at a historic low of 0.5%. Also, the central bank is expected to continue its GBP 200 billion worth quantitative easing measures. The BoE is set to announce its decision at 7.00am ET.

At 2.00am ET, the Federal Statistical Office is slated to issue German wholesale prices for November. In October, wholesale prices had declined 0.4% on a monthly basis and 7% annually.

At 2.50am ET, the French statistical office INSEE is scheduled to issue industrial production for October. After falling 1.5% month-on-month in September, industrial output is forecast to grow 0.6%. At the same time, manufacturing output is expected to rebound by 1.3%, following September's 1.6% fall.

At 3.30am ET, the Swiss National Bank is set to announce its interest rate decision. The Swiss National Bank is also expected to retain its three-month libor target rate unchanged at 0.25%. Economists now expect the SNB to revise its GDP and inflation forecasts upwards.

Half an hour later, the Italian statistical office, ISTAT is slated to publish industrial output figures for October. Economist forecast a monthly rise of 1.3%, while it is expected to decline by a working day adjusted 12.7% annually.

At 5.00am ET, the quarterly national accounts data is expected from the Italian statistical office ISTAT.

Thursday, the interest rate decision from the Bank of England and Swiss National Bank are in focus. (Market News Provided by RTTNews)