The European Central Bank (ECB) and the Swiss National Bank (SNB) are set to reveal their monetary policy decisions on Thursday, key events that are closely watched by financial markets.
The ECB is anticipated to reduce its key interest rates by 25 basis points for the third time in a row, with the primary rationale being slowing economic growth and subdued inflation. This move has been largely anticipated by the markets, which have already factored in the quarter-point cut. Consequently, attention will now turn to the ECB's accompanying statements and projections. The ECB's policy announcement is scheduled for 8:45 AM ET.
Similarly, the Swiss National Bank is expected to decrease its interest rate by 25 basis points. This action would mark the SNB's third rate cut this year. The SNB will announce its decision at 3:30 AM ET.
In addition to these central bank announcements, Europe will release other economic data. Statistics Sweden will publish consumer price data for November at 2:00 AM ET, with inflation projected to remain steady at 1.6 percent. Meanwhile, Italy's unemployment statistics, due at 4:00 AM ET, are anticipated to show a reduction in the jobless rate to 6.6 percent for the third quarter, down from 6.8 percent previously.
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