European Economic News Preview: ECB Monetary Policy Announcement Due
October 25 2023 - 10:15PM
RTTF2
The monetary policy decision from the European Central Bank is
the top event due on Thursday, headlining a light day for the
European economic news.
The ECB is widely expected to keep its interest rates unchanged
and also to retain its hawkish bias. The announcement is due at
8.15 AM ET.
At the September meeting, the ECB had raised its refi rate by 25
basis points to 4.50 percent. The bank has raised rates by a
cumulative 400 basis points with hikes in every policy session of
the current tightening cycle that began in July last year.
Following the announcement of monetary policy decision, ECB
President Christine Lagarde holds press conference in Athens,
Greece. Other major economic reports due on Thursday are UK
Distributive Trades survey results and quarterly unemployment data
from Spain.
At 3.00 am ET, Spain's statistical office INE publishes
unemployment rate for the third quarter. The jobless rate is
forecast to fall to 11.5 percent from 11.6 percent in the second
quarter.
At 6.00 am ET, the Confederation of British Industry releases
monthly Distributive Trades survey results. The retail sales
balance is forecast to fall to -16 percent in October from -14
percent in September.
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