| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 07:55 | Germany | Manufacturing PMI | July | 43.5 | 42.6 | 43.2 |
| 08:00 | Eurozone | Manufacturing PMI | July | 45.8 | 45.6 | 45.8 |
| 08:30 | United Kingdom | Purchasing Manager Index Manufacturing | July | 50.9 | 51.8 | 52.1 |
| 09:00 | Eurozone | Unemployment Rate | June | 6.4% | 6.4% | 6.5% |
GBP declined against other major currencies in the European session on Thursday as investors awaited a crucial policy decision from the Bank of England at 11:00 GMT.
Market participants are divided on whether the BoE will approve its first rate reduction since the pandemic at the August meeting, which would push the Bank Rate down to 5.00% from the current 5.25%.
According to Bloomberg, investors price in around 57% probability of a 25-basis-point rate decrease by the British central bank today, while most economists surveyed by the agency foresee the move.
Markets will also scrutinise the BoE’s policy statements, its updated growth and inflation projections, and the central bank governor Andrew Bailey’s remarks for hints at future adjustments to the monetary policy.