European Economics Preview: Bank Of England Set To Hold Rates

Interest rate announcement and inflation report are due from the Bank of England on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to release Germany's foreign trade data for December. Exports are forecast to drop 1 percent on month and imports to fall 0.8 percent.

In the meantime, Turkey's industrial output figures are due. Economists forecast production to grow 0.5 percent on month in December after rising 0.3 percent in November.

At 3.00 am ET, Spain's INE releases industrial production data for December. Production is expected to grow 4 percent annually, following November's 4.2 percent increase.

At 4.00 am ET, the European Central Bank publishes Economic Bulletin.

At 5.00 am ET, Greece's unemployment data is due for November. The jobless rate was 20.7 percent in October.

At 7.00 am ET, the Bank of England is set to publish the outcome of its two-day rate setting meeting along with the minutes. The quarterly Inflation Report is also due.

The central bank is widely expected to hold its key bank rate at 0.50 percent and quantitative easing at GBP 435 billion.