'Super' Thursday as it has been dubbed BoE rate watchers is yet to live up to its name, as BoE kept rates on hold and no new dissenters were seen from voting members.
- The star of the data set was taken by BoE's inflation report which, after striking a dovish tone, sent Cable down to a 3-month low as trades pushed back their rate hike expectations further into 2016.
- Canada's Ivey PMI data expanded for a 6th month but at a 3-month low and slightly below expectations, at 53.1 vs 54 forecast. The Price Index and Delivery Index components have propped the headline figure up but employment and inventories have both dropped below 50 to 48.3 and 46.6 respectively, warning of trouble ahead for the economy.
- RBA release their monetary policy statement which may provide more insight than in recent months, after the hawkish statement earlier this week. RBA seem upbeat on the economy and had it not been for the final comment regarding inflation and further cuts, many could have taken it as a sign of pending hikes. I am far from convinced of that scenario, but perhaps today's notes will shed further insight.
- Later in the session are Japan's coincident and leading indicators that, whilst not likely to be huge market movers, provide an insight into the underlying state of the economy (and odds of further monetary stimulus down the line).