Economic data for the week ahead is relatively quiet compared to last week’s economic calendar.

Among the central bank meetings, only the Bank of Canada is scheduled to hold its monetary policy meeting this week.

On the economic side, data includes UK’s manufacturing and industrial production figures.

In the UK, the producer price index data will be coming out. The ECB is scheduled to release is monetary policy meeting minutes this week.

ECB Monetary Policy Meeting minutes

The European Central Bank will be releasing its meeting minutes this week on Thursday. The meeting minutes cover the monetary policy meeting held in June.

The European Central Bank had signaled that it would be tapering its QE to 15 billion euro from September and would eventually end its quantitative easing program by end of December 2018.

Investors will be looking to the meeting minutes to gain more insights into the central bank’s forward guidance. Despite coming out hawkish, the ECB balanced the tone of its meeting by indicating that interest rates will remain unchanged for at least until the middle of 2019.

This managed to push the euro lower on the day.

The recent uptick in flash inflation which showed that consumer prices rose 2.0% on the year in June is expected to keep investors on a hawkish outlook.

Thus, the meeting minutes could potentially outline the risks that could derail the ECB’s plans for moving toward tighter monetary policy conditions.