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The interest rate announcement and quarterly Inflation Report are due from the Bank of England, headlining a busy day for the European economic news.
At 3.00 am ET, retail sales from Hungary and consumer prices from Turkey are due. Inflation is forecast to ease to 9.9 percent in July from 10.9 percent in June.
At 3.15 am ET, IHS Markit publishes Spain's services PMI data for July. The services PMI is forecast to rise to 58.5 in July from 58.3 in June.
At 3.45 am ET, Italy's services PMI is due. Economists forecast the index to climb to 54.1 in July from 53.6 in June.
Thereafter final PMI reports are due from France and Germany. At 4.00 am ET, Eurozone final composite PMI is due. The reading is forecast to match the flash estimate of 55.8.
At 4.30 am ET, UK CIPS/Markit services PMI is due. Economists expect the index to rise slightly to 53.6 in July from 53.4 in June.
At 7.00 am ET, the Bank of England announces its interest rate decision along with minutes and quarterly Inflation Report.
The bank is widely expected to keep its rate at a record low 0.25 percent and asset purchase plan at GBP 435 billion. The bank is also likely to downgrade its growth forecast.
In the meantime, the Czech National Bank is set to publish the results of its monetary policy meeting. The bank is forecast to hike the rate to 0.25 percent from 0.05 percent.
