What you need to know before the open – 06/02
A slightly higher open for European markets this morning as the European Central Bank’s decision over its main interest rates lies in focus.
There’s been speculation that its headline rate could get cut from 0.25 per cent to 0.1 per cent – although many economists are sceptical as to the impact that would have on an economy that’s still stuttering.
The Bank of England is also meeting today, but no changes to policy are expected.
FTSE 100 set to open up 28 points this morning!
— David Buik (@truemagic68) February 6, 2014
Key events:
- German factory orders for December at 11.00am. Expected at 0.4 per cent from 2.1 per cent.
- UK Bank of England interest rate decision at 12.00pm. Expected unchanged at 0.5 per cent.
- EU European Central Bank interest rate decision at 12.30pm. Expected unchanged at 0.25 per cent.
- EU monetary policy statement and press conference at 1.30pm.
- US initial jobless claims (31 January) at 1.30pm. Expected at 335,000 from 348,000.
- US nonfarm productivity for the fourth quarter (24 January) at 1.30pm. Expected at 2.5 per cent from 3.0 per cent.