The European Central Bank is expected to expand its quantitative easing programme and cut its interest rates on Thursday.
The ECB is slated to announce the outcome of the governing council meeting at 7.45 am ET. The bank is forecast to cut its deposit rate to -0.3 percent from -0.2 percent. The key refi rate is expected to be kept unchanged at a record low 0.05 percent and the marginal lending rate at 0.30 percent.
ECB President Mario Draghi is set to hold the customary press conference at 8.30 am ET. The bank is widely expected to expand its asset purchase programme.
At 1.30 am ET, the French statistical office Insee is scheduled to publish unemployment data. The jobless rate is forecast to rise to 10.4 percent in the third quarter from 10.3 percent in the second quarter.
At 3.00 am ET, retail sales and final trade figures are due from Hungary. Sales are forecast to grow 4.6 percent on a yearly basis in October after rising 5.1 percent in September.
In the meantime, consumer and producer prices from Turkey are due. Inflation is seen at 7.88 percent in November versus 7.58 percent in October.
At 3.15 am ET, Markit is set to publish Spain’s services PMI. The index is seen at 56.4 in November versus 55.9 in October.
At 3.45 am ET, Italy’s services PMI is due. Economists forecast the indicator to rise to 53.9 in November from 53.4 in October.
Thereafter, final PMI figures are due from France and Germany. At 4.00 am ET, Markit is slated to release Eurozone composite PMI for November. The composite PMI is forecast to match the flash reading of 54.4.
At 4.30 am ET, U.K. Markit/CIPS PMI is due. The services PMI is forecast to rise marginally to 55 in November from 54.9 in October.
At 5.00 am ET, Eurostat releases Eurozone retail sales figures. Sales are forecast to grow 0.2 percent on a monthly basis in October, reversing a 0.1 percent fall in September.
The material has been provided by InstaForex Company – www.instaforex.com