Market movers today
Euro industrial production is expected to decline in March in line with the movement across countries. The lower production is partly due to fewer working days in March.
We expect an increase in French inflation to 0.9% in April mainly as a result of the timing of Easter. The final German and Spanish figures should remain unchanged from the flash estimate.
In the UK Bank of England May inflation report is released. Focus will be on the updated assessment of the amount of slack in the UK economy, as it represents a crucial part of the updated forward-guidance framework. Given the recent strength in UK data, we expect the tone to be a bit more upbeat and thereby less slack to be projected in the economy. UK unemployment data are also released and we expect a decline in the unemployment rate after it showed a large fall in February.
ECB's Weidmann and Mersch speak in Berlin. It will be interesting to hear if Weidmann will elaborate on yesterday's Bundesbank story, cf. below.
In the Scandi markets focus will be on the new budget proposal in Norway.
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