European Economic News Preview: BoE, SNB Policy Announcements Due
(RTTNews) - The monetary policy announcements from the Bank of England and the Swiss National Bank are due on Thursday.
The SNB announces its quarterly monetary policy announcement at 3.30 am ET. The bank is forecast to cut its key rate by a quarter-point to zero percent as inflation turned negative.
At 4.00 am ET, Norges Bank releases policy rate decision and monetary policy report. Markets forecast the bank to postpone its interest rate reduction. The bank is set to hold the rate at a 17-year high of 4.50 percent.
The BoE is expected to retain its benchmark rate at 4.25 percent amid rising geopolitical tensions and inflation remaining persistently above the target. The announcement is due at 7.00 AM ET.
At 7.00 am ET, policy announcement is also due from Turkey. The bank is set to hold its key interest rate at 46 percent.
Major economic reports other than monetary policy decisions are foreign trade from Switzerland and construction output from euro area.
At 2.00 am ET, Swiss customs office publishes foreign trade data. The trade surplus is expected to fall to CHF 5.85 billion in May from CHF 6.4 billion in April.
At 5.00 am ET, Eurostat is scheduled to issue euro area construction output data for April.
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