TODAY: New indices of business activity in the euro area!
Dear traders,
Today in the euro area will be published preliminary data on activity in the manufacturing sector and the service sector at 11:00 (Kiyv). A moderate decrease in these indicators is expected.
Prior to this, France and Germany will publish their own reports on the importance of the PMI index at 10:00 and 10:30 (Kiyv), respectively.
Also, the German business climate index from the IFO Institute and the ZEW economic sentiment index in Germany will be published. If the values of these indices remain high, this could provoke the ECB to the next step to reduce the financial incentive program.
On Thursday, the ECB will publish the minutes of its January meeting. As a result of this meeting, the Governing Council of the ECB confirmed its intention to maintain its € 2.5 trillion financial incentive program as long as necessary. At the same time, the head of the European Central Bank said that the chance of raising the interest rate this year is extremely unlikely.
Despite these statements, market players have remained confident that the soft monetary policy in the region will end sooner rather than later.
In October 2017, the ECB reduced the volume of the monthly repurchase of bonds from € 60 billion to € 30 billion, but extended the program of financial incentives until the end of September 2018 due to a weak increase in inflation.
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