European Economic News Preview: ECB Policy Announcement Due

The European Central Bank is set to keep its benchmark rates unchanged on Thursday as it awaits strong evidence of receding inflation.

The policy decision is due at 8.15 am ET. ECB Chief Christine Lagarde holds press conference at 8.45 am ET.

The bank will also release macroeconomic projections. Both growth projection and inflation outlook are likely to be lowered.

Factory orders from Germany and house prices from the UK are the other major economic reports due today.

At 2.00 am ET, Destatis is set to release Germany’s factory orders data for January. Orders are forecast to fall 6.0 percent on month, in contrast to the 8.9 percent increase in December.

In the meantime, UK Halifax house price data is due for February. House prices had increased 1.3 percent on month in January.

Also, household consumption and manufacturing output from Norway are due.

At 5.00 am ET, GDP data is due from Greece.