Germany’s November WPI -0.9% m/m (last -0.6%); 14.9% yr/yr (last 17.4%)
France’s November CPI 0.3% m/m (expected 0.4%; last 1.0%); 6.2% yr/yr, as expected (last 6.2%). December Business Survey 101 (expected 100; last 101)
Spain’s October trade deficit EUR6.85 bln (last deficit of EUR6.98 bln)
The Bank of England raised its bank rate by 50 bps to 3.50%, as expected. Most BoE policymakers believe that further increases will be needed, and the BoE also noted that the U.K. is in a recession, expecting Q4 GDP to contract 0.1%.
The Swiss National Bank raised its policy rate by 50 bps to 1.00% and Norges Bank raised its rate by 25 bps to 2.75%.
The European Central Bank is expected to announce a 50-bps rate hike of its own at 8:15 ET.
The U.K. may extend energy subsidies for businesses past the winter, though at a lower level.