European markets set to start week of central bank meetings in positive territory
European markets are poised for a positive start as they approach a busy week of central bank meetings. Key indices such as the FTSE, DAX, CAC 40, and FTSE MIB are all trending upward ahead of the European Central Bank's final policy meeting of the year, where rates are expected to remain at 2%. ECB President Christine Lagarde hinted at an upward revision of growth forecasts in December, following a prior increase to 1.2% GDP growth. Meanwhile, inflation data for the Eurozone and U.K. will be released midweek, and a summit addressing funding for Ukraine is also on the agenda. As European markets react, U.S. economic data is set for release, following a mixed week in Wall Street trading.
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The U.K.'s FTSE index is opening 0.36% higher, while Germany's DAX, France's CAC 40, and Italy's FTSE MIB are up 0.42%, 0.33%, and 0.62%, respectively.
The ECB's final policy meeting is scheduled for Thursday, with expectations that they will maintain interest rates at 2%.
Christine Lagarde indicated that the ECB may raise growth forecasts for 2025 during the December meeting, building on the previous increase to 1.2%.
In addition to the ECB, central banks like the Bank of England are expected to make their last monetary policy decisions of the year, with a potential interest rate cut anticipated.
Inflation figures from both the Eurozone and the U.K. are set to be released on Wednesday, which will provide further insight into economic conditions.
A summit in Brussels on Thursday will address Ukraine funding, including discussions about utilizing frozen Russian assets to support a 210-billion-euro loan to Kyiv.
In the U.S., upcoming economic reports include November nonfarm payrolls and October retail sales, which were delayed due to a government shutdown.