European Economic News Preview: BoE To Cut Interest Rate
07 Novembre 2024 - 3:00AM
RTTF2
The Bank of England is set to lower its benchmark rate by a
quarter-point on Thursday but uncertainty over the future policy
easing escalated after Donald Trump won the US presidential
election.
At the end of two-day policy meeting, the Monetary Policy
Committee of the BoE is expected to lower the bank rate to 4.75
percent from 5.00 percent.
Retail sales from the euro area and industrial production and
foreign trade from Germany are the other major economic reports due
on Thursday.
At 2.00 am ET, Destatis is scheduled to issue Germany's
industrial output and external trade figures. Production is
expected to fall 1.1 percent on month in September after a 2.9
percent gain in August. Germany's exports are forecast to fall 1.4
percent and imports to drop 0.4 percent in September.
In the meantime, UK Halifax house price data is due. House
prices are forecast to grow 0.2 percent on month in October after a
0.3 percent rise seen in September. At 3.00 am ET, industrial
output data is due from Spain. Industrial production is expected to
grow 0.2 percent on year in September, reversing a 0.1 percent fall
in August.
At 3.30 am ET, S&P Global publishes Germany's construction
PMI data.
At 5.00 am ET, Eurostat releases euro area retail sales figures
for September. Economists expect sales to grow 0.4 percent on month
after a 0.2 percent rise in August.
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