In July 2017, compared with June 2017, industrial producer prices remained stable in the euro area (EA19), while they rose by 0.1% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In June 2017 prices decreased by 0.2% in the euro area and by 0.3% in the EU28. In July 2017, compared with July 2016, industrial producer prices rose by 2.0% in the euro area and by 2.3% in the EU28.
Focus of the Thursday's session was on ECB interest rate decision and the following press conference. Even while the European Central Bank made no changes to either policy or its statement on Thursday, Mario Draghi, president of the euro zone monetary authority, affirmed that a decision on whether to reduce, or taper, asset purchases will be decided in autumn, most likely in October.The ECB kept monetary policy on hold on Thursday with the main refinancing rate left unchanged at 0%, the rate on bank overnight deposits kept at -0.40%, while the rate on the marginal lending facility, or emergency overnight borrowing rate for banks, stayed at 0.25%.
This week markets will be looking at:
Industrial Production (Wednesday 11:00)
Trade Balance (Friday 11:00)
