The Week Ahead: European Central Bank Meeting and Bank of England Interest Rates

Posted by Unknown on Sunday, August 3, 2014

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Business Day |European Central Bank Meeting and Bank of England Interest Rates

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Business Day | The Week Ahead

TRIAL TO SET PENALTY IN MICHAELS STORES CASE

On Monday, a nonjury trial will begin to determine the size of the penalty that the founder of Michaels Stores, Samuel Wyly, and his brotherâ€™s estate will have to pay the Securities and Exchange Commission. In May, a jury found that Samuel Wyly and his brother Charles, who died in 2011, committed fraud by creating offshore trusts that netted them $550 million in illegal trading profits. NYT

EUROPEAN CENTRAL BANK TO MEET ON ECONOMIC POLICY

Mario Draghi Daniel Roland/Agence France-Presse â€” Getty Images

The European Central Bank, led by its president, Mario Draghi meets in Frankfurt on Thursday. The bank is not expected to take further action to stimulate the eurozone economy, despite signs that the crisis in Ukraine could be hurting growth. JACK EWING

EARNINGS REPORTS ON MEDIA GIANTS

It is a big week for media earnings. Walt Disney will report on Tuesday, Time Warner and Viacom on Wednesday, and CBS and News Corporation on Thursday. NYT

BANK OF ENGLAND TO WEIGH RAISING BENCHMARK RATE

On Thursday, the Bank of England will announce whether it will raise its interest rate, or leave it as is. Last month, the bankâ€™s monetary policy committee kept the benchmark interest rate at 0.5 percent, the lowest it has ever been. The minutes of that meeting, however, indicated that some committee members believe that the risk of undermining an economic recovery by raising the rate is no longer as great. NYT