The Bank of England is anticipated to maintain the current bank rate this Thursday, following two policy eases earlier in the year. This decision comes as inflation remains above the target of 2 percent and there has been an unexpected strengthening in wage growth.
The Monetary Policy Committee is predicted to keep the interest rate steady at 4.75 percent. Previously, the bank had implemented quarter-point rate reductions in November and August. The formal announcement is expected to be made at 7:00 AM ET.
In other economic news scheduled for Thursday, consumer sentiment data from Germany and business confidence survey results from France will be released. Additionally, monetary policy announcements from both Sweden and Norway will be revealed.
At 2:00 AM ET, the market research group GfK will release its consumer sentiment survey results. The forward-looking index is projected to rise to -22.6 in January, an improvement from -23.3 in December.
At 2:45 AM ET, France's statistical office, INSEE, is set to disclose business confidence survey data. Economists predict a decline in the business sentiment index, expecting it to drop to 96 in December from 97 in November.
At 3:30 AM ET, the central bank of Sweden will announce its interest rate decision. Market consensus suggests a reduction of 25 basis points in the benchmark rate, bringing it down to 2.50 percent.
At 4:00 AM ET, the European Central Bank will release the euro area current account figures. The current account surplus is anticipated to decrease to EUR 33.5 billion in October, down from EUR 37.0 billion in September.
Meanwhile, at the same time, Norges Bank is expected to announce its policy decision. The bank is broadly projected to maintain the key rate at 4.50 percent.
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