| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:00 | Germany | Trade Balance (non s.a.), bln | December | 11.2 | | 9.7 |
| 08:00 | Switzerland | SECO Consumer Climate | Quarter I | -47 | | -30 |
EUR traded mixed, while GBP fell against other major currencies in the European session on Thursday as markets awaited the policy decisions from the central banks for Britain and the Eurozone.
Expectations are for the Bank of England to announce a 50-basis-point interest rate increase when it releases the outcomes of its February meeting at 12:00 GMT. This move would lift the BoE’s benchmark rate to 4%, its highest level since 2008. Markets will scrutinize the statements of the British central bank for clues on when it plans to end the current tightening cycle. It is expected that a smaller rate hike of 25 basis points in March might be a final rate move.
Meanwhile, its counterpart in the Eurozone, which is set to unveil its latest policy update at 13:15 GMT, is also anticipated to deliver a 50-basis-point interest rate raise. Unlike the BoE, the European Central Bank, however, is probably to signal more rate hikes over the coming months.