European Economic News Preview: ECB To Hold Key Rates
(RTTNews) - The European Central Bank is set to hold its key interest rates for the second straight session on Thursday as inflation stayed around the target and the economy showed resilience to higher tariffs.
Markets expect the ECB to retain the deposit rate at 2.00 percent. The refinancing rate is seen unchanged at 2.15 percent and the marginal lending rate at 2.40 percent. The previous change in euro area interest rates was a 25-basis point reduction in June.
The ECB is scheduled to announce the decision after the meeting of the governing council in Frankfurt at 8.15 am ET. It will be followed by the customary press conference at 8.45 am ET.
The bank is also slated to publish its macroeconomic projections for the euro area. ECB Chief Christine Lagarde is likely to keep the door open for further rate cut if inflation falls well below the target amid stronger euro and falling energy prices.
Other notable economic event for the day is policy decision from Turkey. The bank is forecast to cut its benchmark rate by 200 basis points to 41.00 percent. The announcement is due at 7.00 am ET.
At 3.00 am ET, the Turkish Statistical Institute publishes retail sales for July. Sales had increased 1.3 percent month-on-month in June. At 6.00 am ET, the Central Statistics Office is slated to release Ireland's inflation figures for August. Inflation had eased to 1.7 percent in July from 1.8 percent in June.
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