European Economics Preview: Bank Of England Rate Decision Due

Interest rate announcement from the UK and business confidence from Germany are due on Thursday, headlining a hectic day for the European economic news.

At 3.45 am ET, the French statistical office Insee publishes manufacturing sentiment survey results. The confidence index is forecast to drop to 111 in March from 112 in February.

At 4.00 am ET, flash Purchasing Managers' survey data is due from France. The composite PMI is seen at 57.0 in March versus 57.3 in February.

Half an hour later, Germany's flash PMI data is due. Economists forecast the composite PMI to fall to 57 in March from 57.6 in February.

At 5.00 am ET, Ifo business confidence from Germany and composite PMI from euro area are due. The business sentiment index is seen falling to 114.6 in March from 115.4 in February.

The Eurozone composite PMI is expected to ease to 56.8 in March from 57.1 a month ago.

At 5.30 am ET, the Office for National Statistics releases UK retail sales data. Sales are forecast to rise 0.3 percent on month in February, faster than the 0.1 percent rise seen in January.

At 8.00 am ET, the Bank of England is set to announce its rate decision and the minutes of the meeting. The bank is widely expected to hold its key rate at 0.50 percent and the asset purchase plan unchanged at GBP 435 billion.