The Bank of England is to make its monthly interest rate announcement alongside any further changes to the asset purchase facility at 12pm. The consensus is that the central bank will refrain from making any changes from the current course of quantitative easing (£375bn) and interest rates on hold at a record low 0.50%. There are expectations that the MPC will wait until Mark Carey becomes governor before increase the current level of asset purchases. Recent macro data from the UK has shown signs of a recovery, though the reliance on cheap ultra-low financing costs is a concern to some that it is building up a future credit bubble.
European Union deposit-insurance funds would be vulnerable to “huge shocks” unless depositors get preferred treatment over other unsecured creditors, a study on proposed rules for handling failing banks showed - Bloomberg
China's new government is comfortable with the slower growth environment, the country's leading securities newspaper said Thursday, warning that market expectations about fresh fresh stimulus measures are likely to be disappointed - MNI
Various articles are highlighting the Netherlands indebtedness as a concern for the future stability of the Eurozone
Analysts highlight Coppers proxy to global growth, especially that of China, as indices have retreated from their highs Copper has come off slightly
Looking ahead to data we have the ECB monthly report at 9am and UK manufacturing and industrial production at 9:30am.