| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 08:30 | Switzerland | SNB Interest Rate Decision | | 1.75% | 1.75% | 1.75% |
EUR and GBP traded mixed against other major currencies in the European session on Thursday as investors waited for the announcements of policy decisions by the European Central Bank and the Bank of England later this day.
The pound firmed versus USD, CHF and EUR but weakened versus CAD, AUD and JPY. Meanwhile, the euro strengthened versus USD and CHF but depreciated versus GBP, JPY, CAD and AUD.
While both central banks are widely anticipated to keep key interest rates unchanged at their final meetings of 2023, the focus will be on signals of future rate moves.
Ahead of the policy updates, markets expect at least six quarter-point rate cuts from the ECB and five from the B0E in 2024, with the first decreases coming in the spring.
Yesterday, the U.S. Federal Reserve clearly indicated that its tightening campaign is over and three rate cuts might be approved next year.