BoE decision on interest rates
Interest rate decisions from the European Central Bank (ECB) and the Bank of England (BoE) will attract much of the attention in the coming week, as market participants await for further indications on the health of the European economy. Among other...
Interest rate decisions from the European Central Bank (ECB) and the Bank of England (BoE) will attract much of the attention in the coming week, as market participants await for further indications on the health of the European economy.
Among other releases in Europe this week, there will be the Purchasing Manager Index (PMI) Composite, which will give some indications on the manufacturing and services strength within the Eurozone economies during February. The Eurozone's Producers Price Index (PPI) numbers and retail sales figures for January will also be released during the week. Gross domestic product (GDP) figures for the fourth quarter are also scheduled to be published this week.
Similarly, in the UK, the BoE is also expected to issue its interest rate decision on Thursday. Following the recent rate cut by 25 basis points, the BoE seems not to be inclined to cut rates aggressively. The market will also look towards data to be issued this week on the Purchasing Manager Index (PMI) Manufacturing and services for February. Nationwide consumer confidence for February will also be released next week.
In the US, January factory orders figures and the ISM non-manufacturing composite index for February are due on March 5. Initial jobless claims and continuing claims numbers are also on the agenda for this week. The unemployment rate for February will also be released. Mortgage delinquencies figures for the fourth quarter of 2007 should shed more light on the current state of the US housing market.
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