European Economic News Preview: Swiss Monetary Policy Decision Due

The monetary policy announcement from Switzerland and consumer sentiment survey results from Germany are the major reports due on Thursday.

At 2.00 am ET, the market research group GfK is scheduled to release German consumer sentiment data for October. The forward-looking index is seen at -22.4 compared to -22.0 in September.

Also, unemployment from Norway and foreign trade data from Sweden are due.

At 3.00 am ET, Spain retail sales data is due. Economists forecast sales to grow 1.9 percent annually in August after a 1.0 percent rise.

Half an hour later, Swiss National Bank announces its monetary policy decision. The bank is expected to cut its key rate to 1.00 percent from 1.25 percent.

At 4.00 am ET, the European Central Bank is slated to issue money supply data. Economists forecast M3 to grow 2.5 percent year-on-year in August compared to a 2.3 percent rise in July.

In the meantime, Italy’s statistical office ISTAT publishes business and consumer confidence survey results. The business confidence index is seen unchanged at 87.1 in September.