Thursday, the Bank of England is expected to hold its key interest rate at a record low of 0.5%. The central bank is set to announce its decision at 7.00am ET.

Last month, the BoE had decided to reduce the Bank Rate by 50 basis points and announced a GBP 75 billion Asset Purchase Programme. The interest rate now stands at the lowest level since the central bank was established in 1694.

At 1.45am ET, the Swiss unemployment report is due. The jobless rate is expected to rise to 3.5% in March from 3.4% last month.

Thereafter, the German statistical office is slated to release a final CPI report for the month of March at 2.00am ET. According to preliminary estimate, consumer price annual inflation slowed to 0.5% from 1% in February.

At 4.00am ET, the Italian industrial production is due. Industrial output is forecast to fall 1.5% in February compared to 0.2% drop in January. In the meantime, a monthly report is expected from the European Central Bank.

At 4.30am ET, the UK PPI and external trade data is due. Input prices are predicted to fall 0.7% annually in March after rising 0.5% in February. Meanwhile, output prices are expected grow 2.1% compared to 3.1% in February.

UK's visible trade deficit is seen at GBP 7.6 billion in February, smaller than GBP 7.75 billion deficit in January.

At 6.00am ET, the Federal Ministry of Economics and Technology is due to issue German industrial production data for February. Economists see a 3% month-on-month decline in February following a 7.5% fall in January. On an annual basis, output is forecast to slump 21.7%.

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