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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
All eyes will be on the Bank of England's monetary policy decision at midday Thursday. Before the BOE, Eurozone HICP flash is expected. Later in the day, US industrial production and capacity utilisation data is due.
Eurozone Final February HICP Print (1000 GMT)
Today’s final inflation print for the Eurozone is expected to be in line with the flash reading, confirming a new Euro-era high of +5.8% y/y in February. Some recent surveys hint at an upside surprise read of +5.9% y/y. The core and on-the-month HICP readings are also seen unchanged from the preliminary estimates, at +2.7%y/y and +0.9% m/m, respectively.
BOE Monetary Policy Decision (1200 GMT)
The Bank of England’s monetary policy decision will likely see a 25bp hike to 0.75%, the third 25bp hike in a cycle which kicked off in December. Current market pricing stands at around 32bp, however, a more dovish approach is expected due to the Ukraine war and associated economic and political risks.
Since the latest meeting, the January inflation print showed inflation running hotter than expected at +5.5% y/y, largely due to housing and household services price inflation on the back of higher energy prices. Economic growth beat expectations in January, with GDP rebounding to above pre-pandemic levels, paving the way for continued monetary tightening.
For a detailed preview of the meeting, click here for the MNI BoE Preview.
US Industrial Production and Capacity Utilisation (1315 GMT)
Industrial production is projected to soften to +0.5% m/m in February, following +1.4% m/m growth in January. On the other hand, capacity utilisation is expected to strengthen further, stepping up to 77.9% in the February print from 77.6% which was the first time capacity utilisation had reached the 77% mark since pre-pandemic 2019.
Today's key policymaker appearances are the ECB's President Christine Lagarde, Phillip Lane and Isabel Schnabel, all speaking at the Bank's Watchers conference. Links to the events are in the calendar below.
| Date | GMT/Local | Impact | Flag | Country | Event |
| 17/03/2022 | 0030/1130 | *** |  | AU | Labor force survey |
| 17/03/2022 | 0930/1030 |  | EU | ECB Lagarde Address at ECB & Its Watchers Conference | |
| 17/03/2022 | 1000/1100 | *** | | EU | HICP (f) |
| 17/03/2022 | 1015/1115 | | EU | ECB Lane in Debate at ECB & its Watchers Conference | |
| 17/03/2022 | 1200/1200 | *** |  | UK | Bank Of England Interest Rate |
| 17/03/2022 | 1230/0830 | ** |  | US | Jobless Claims |
| 17/03/2022 | 1230/0830 | *** | | US | Housing Starts |
| 17/03/2022 | 1230/0830 | ** | | US | Philadelphia Fed Manufacturing Index |
| 17/03/2022 | 1230/0830 | ** | | US | WASDE Weekly Import/Export |
| 17/03/2022 | 1245/1345 | | EU | ECB Schnabel in Debate at ECB & its Watchers Conference | |
| 17/03/2022 | 1315/0915 | *** | | US | Industrial Production |
| 17/03/2022 | 1430/1030 | ** | | US | Natural Gas Stocks |
| 17/03/2022 | 1530/1130 | ** | | US | NY Fed Weekly Economic Index |
| 17/03/2022 | 1530/1130 | * | | US | US Bill 08 Week Treasury Auction Result |
| 17/03/2022 | 1530/1130 | ** | | US | US Bill 04 Week Treasury Auction Result |
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.