We do not expect any announcements at next week’s ECB meeting , as the ECB has hinted that there will be no decision on the QE programme before the October meeting. Instead, the focus is likely to be on how big a problem the current pace of euro appreciation is for the ECB. For more, see ECB Preview: Dovish stance due to strong euro , 1 September.
We do not expect the Riksbank to change either the repo rate or the repo rate path. Also, we do not expect any message about terminating the QE programme now. In our view, this is likely to come in October or December.
In Denmark , we are due to get FX reserves data for August on Monday, which we believe is likely to show that Danmarks Nationalbank has not intervened in the FX market.
In the UK , the PMI service index for August will give us more information about how the economy is doing in Q3 following sluggish growth in the first half of the year.