The monetary policy announcement from the European Central Bank is due on Thursday, headlining a light day for the European economic news.
The ECB is expected to take a more cautious approach than previously anticipated as the ongoing conflict in Ukraine has changed economic scenario. The outcome of the governing council meeting is due at 7.45 am ET.
The bank is set to hold its main refinancing rate at zero, the deposit rate at -0.50 percent and the marginal lending rate at 0.25 percent.
At 8.30 am ET, ECB Chief Christine Lagarde holds press conference in Frankfurt.
Thereafter, at 9.30 am, the ECB is slated to publish macroeconomic projections for the euro area.
The major statistical reports due for the day are as follows:
At 1.00 am ET, Statistics Finland releases industrial output data for January. Production had increased 11.5 percent annually in December.
At 2.00 am ET, consumer and producer prices from Norway and unemployment data from Turkey are due. Norway’s consumer price inflation is seen unchanged at 3.2 percent.
At 3.00 am ET, the Czech Statistical Office is scheduled to issue consumer prices for February. Economists forecast inflation to advance to 10.3 percent from 9.9 percent in January.
At 4.00 am ET, Italy’s Istat releases producer prices for January.
At 5.00 am ET, consumer prices and industrial production figures are due from Greece. Economists forecast inflation to climb to 7 percent in February from 6.2 percent in January.
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