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2018.07.2601:56:00UTC+00European Economics Preview: ECB Rate Decision Due

The European Central Bank is expected to maintain status quo at its governing council meeting on Thursday, after announcing in June about its plan to start exiting quantitative easing by the end of this year.

The main refi rate is set to remain at a record low zero percent and the deposit rate at -0.40 percent as the ECB last month indicated that the rate will remain at the current level at least till the summer of 2019.

The bank announces the outcome of its monetary policy meeting at 7.45 am ET.

Following the meeting of the Governing Council in Frankfurt, ECB President Mario Draghi will hold his customary press conference at 8.30 am ET.

At 2.00 am ET, Germany's GfK consumer sentiment survey results are due. The forward-looking consumer confidence index is seen unchanged at 10.7 in August.

In the meantime, Statistics Norway releases unemployment data for May. The jobless rate is forecast to remain stable at 3.7 percent in May.

At 2.45 am ET, France consumer confidence data is due from Insee. Economists expect the indicator to rise marginally to 98 in July from 97 in June.

At 3.00 am ET, the National Institute of Economic Research is slated to issue Sweden's economic tendency survey results. The economic confidence index is seen at 108 in July versus 108.7 in June.

At 3.30 am ET, Statistics Sweden releases unemployment data. The jobless rate is forecast to remain unchanged at 6.1 percent in June.

At 4.00 am ET, Italy's business and consumer confidence survey results are due.



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