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European Economics Preview: BoE Minutes Due

340 days ago

(RTTNews) - The minutes of the Bank of England's monetary policy meeting as well as U.K.'s claimant count figures are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is set to release Germany's producer price figures for May. Producer price annual inflation is expected to slow to 2.2 percent from 2.4 percent in April.

At 3.00 am ET, Sweden's economic tendency survey results are due. The corresponding index is seen easing to 99.7 in June from 100.9 in May.

Italy's statistical office Istat is scheduled to release industrial orders for April at 4.00 am ET. Economists forecast orders to drop 2 percent month-on-month after rising 3.5 percent in March.

Half an hour later, the Bank of England is set to publish the minutes of the monetary policy meeting held on June 6 and 7. The MPC decided not to raise the quantitative easing from GBP 325 billion and also retained the 0.50 percent interest rate.

In the meantime, the Office for National Statistics is slated to issue U.K. labor market statistics. The number of people claiming jobseekers' allowance is forecast to drop by 4,000 in May. The ILO jobless rate is seen unchanged at 8.2 percent for three months to April.

Germany's auction results are due at 5.30 am ET. The government targets to raise EUR 5 billion from the issue of securities maturing in 2014.

At 8.00 am ET, the Norges Bank is set to announce its interest rate decision. The central bank is widely expected to hold its key rate at 1.5 percent. In the meantime, Poland's industrial output and consumer prices are due.

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