European Economic News Preview: ECB Monetary Policy Decision Due
(RTTNews) - The monetary policy announcement from the European Central Bank is the major event due on Thursday, headlining a light day for the European economic news.
At 3.00 am ET, Statistics Norway releases monthly GDP data for January. The mainland Norway is forecast to shrink 0.2 percent on month in January, reversing a 0.4 percent rise in December.
At 4.00 am ET, the State Secretariat for Economic Affairs is scheduled to release Swiss Spring economic forecast.
At 5.00 am ET, Italy's Istat releases final consumer and harmonized prices for February. The initial estimate showed that consumer price inflation slowed to 9.2 percent from 10.0 percent in January.
At 9.15 am ET, the European Central Bank is set to announce the outcome of the governing council meeting in Frankfurt. Despite the US banking stress, the ECB is expected to stick to its tightening stance. Economists widely expect the bank to raise the benchmark refi rate by 50 basis points to 3.50 percent.
At 9.45 am ET, ECB President Christine Lagarde holds press conference.
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