Economic calendar: German IFO survey and final HICP in Euro Area (24.02.2025)

Monday's economic calendar remains relatively light compared to the numerous inflation, GDP, and sentiment indicators scheduled for later this week.

The day after Germany's snap Bundestag elections, we will see the IFO report, which assesses the current economic situation and business expectations in Germany. Forex market volatility may also be influenced by the final consumer inflation reading for the Eurozone.

Economic calendar for today:

• 07:30 GMT, Switzerland – Labor market data:

  • Employment level (Q4): current 5.534M; previous 5.528M

• 09:00 GMT, Poland – January labor market data:

  • Unemployment rate: forecast 5.4%; previous 5.1%

• 09:00 GMT, Germany – February business expectations:

  • Forecast: 85.2; previous: 84.2

• 09:00 GMT, Germany – February current economic assessment:

  • Forecast: 86.5; previous: 86.1

• 09:00 GMT, Germany – IFO Business Climate Index for February:

  • Forecast: 85.9; previous: 85.1

• 09:00 GMT, Poland – January retail sales data:

  • Retail sales: forecast 1.5% y/y; previous 2.7% y/y

• 10:00 GMT, Eurozone – January inflation data:

  • HICP excluding energy and food: forecast -0.7% m/m; previous 0.3% m/m

  • HICP excluding energy and food: forecast 2.7% y/y; previous 2.7% y/y

  • Consumer Price Index (CPI), unadjusted for seasonal fluctuations: forecast 126.71; previous 127.07

  • CPI excluding tobacco: previous 2.3% y/y

• 10:00 GMT, Germany – Speech by Balz from the German Bundesbank

• 10:00 GMT, Eurozone – January inflation data:

  • CPI: forecast -0.3% m/m; previous 0.4% m/m

  • Core CPI: forecast -1.0% m/m; previous 0.5% m/m

  • Core CPI: forecast 2.7% y/y; previous 2.7% y/y

  • CPI excluding tobacco: previous 0.4% m/m

  • CPI: forecast 2.5% y/y; previous 2.4% y/y

• 13:15 GMT, United Kingdom – Speech by MPC member Ramsden

• 18:00 GMT, United States – 2-year Treasury note auction:

  • Previous yield: 4.211%