European Economics Preview: BoE Expected To Hold Interest Rate

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Interest rate decision from the Bank of England, along with economic sentiment survey results from the Eurozone and factory orders from Germany are due on Thursday, headlining a busy day of European economic news.

At 2:00 am ET, Germany's Federal Statistical Office is set to release retail sales data for November. Year-on-year, retail sales are forecast to fall 1.7%, the same rate of decline as in the previous month. On a monthly basis, retail sales are expected to rise 0.3%.

Trade data from the Czech Statistical Office is due at 3:00 am ET. A trade surplus of CZK 12.5 billion is seen in November, down from CZK 17.5 billion a month ago.

At 3:15 am ET, Switzerland's Federal Statistical Office is scheduled to issue consumer price inflation figures for December. The consumer price index is expected to rise 0.5% on a yearly basis but remain flat on a monthly basis.

Wholesale price data is due from Statistics Austria shortly later at 3:30 am ET. Consumer price inflation data is due from the Netherlands' Central Bureau of Statistics simultaneously.

At 5:00 am ET, the European Commission is slated to release economic sentiment survey results. The Eurozone economic sentiment index is seen at 90 in December, up from 88.8 in November. For the same period, the consumer sentiment index is tipped to rise to minus 16 from minus 17, while the industrial sentiment index is expected to rise to minus 17 from minus 19.

Retail sales data for the eurozone is due at the same time from Eurostat. Sales are forecast to drop 1.9% on an annual basis but remain flat on a monthly basis.

At 6:00 am ET, Germany's Federal Ministry of Economics and Technology is expected to release factory orders data for November. Economists expect factory orders to fall 0.2% year-on-year, slower than the 8.5% slump a month ago. On a monthly basis, factory orders are forecast to rise 1.5%.

The Bank of England's interest rate announcement is due at 7:00 am ET, with the central bank widely expected to retain its key rate at a record low of 0.5%. The BoE is also expected to continue its asset purchase programme totaling GBP 200 billion.

Interest rate decision from the Bank of England, along with economic sentiment survey results from the Eurozone and factory orders from Germany are due on Thursday, headlining a busy day of European economic news. (Market News Provided by RTTNews)