April 3 - ECB on hold as the President Draghi seeks to reassure investors after the Cyprus crisis. No change in UK interest rates expected, and Spain and France sell bonds.
Drug under pressure to settle none of the investors off to Cyprus is brush with financial meltdown. ECB president will speak tomorrow off to the Central Bank sets rates no change expected. Against the backdrop of grim economic data set but the ECB is expected to pledge to keep the banking system will lubricate it. That's his fears grow that Slovenia could follow Cyprus and seek a bailout Tom -- global strategist JPMorgan asset management says there's that -- -- -- My fair is that what had been considered the end game setting up a banking union. As a first step towards fiscal and economic union that that might prove to be a cul-de-sac -- -- -- because. There was three. Elements that that was common regulation Coleman supervision. And out Coleman mutual -- nation bad out system web by. The the northern Europeans would be willing to bad out to southern European Bank. To save that southern European banks government haven't vegetable markets and entries austerity. And and they didn't have that vicious cycle kicking it. The Germans went pretty much against that from day one. What we've seen over the Cyprus issue it is -- I did that you do not -- -- common mutual life is patient all the bad banks' problems throughout the eurozone. Like BCB the Bank of England is not likely to move on -- sign that. The central bank's governor Mervyn king and to his colleagues and friends to turn on the printing presses. For two months running now but that's more like you to come in May when the BO he publishes its quarterly inflation report. And hey you're a group Sharon Dutch finance minister Jerome just problem holds his monthly debate in parliament his rhetoric like you to be daunted. After he suggests that the Cyprus deal which involves attacks on bank deposits. Could form a template for future bailouts. Focus ahead of -- be like you descend from a bond market Spain sent to South Korea and five year bonds. Results to come just off the 9:40 AM London time. Barclays Capital estimates maternal race fine and a half billion euros from the sales. As investors seek higher returns from peripheral debt plus strong cells -- to treasury notes. As expected to raise eight billion euros -- key data points to watch -- for imposed as well. From the yours and related services and composite PMI is may show activity at thousands of companies across the broke. Stagnated in March off to falling in February but -- so -- services PMI data from Germany and the UK. And later in the morning analysts polled by Royces expectations from the Euro zone to show off foreign factory prices in February. Off to higher energy costs cause it's a rise for the first time in four months in January. That's all look at the first stage of the legs financial -- -- -- -- today that every weekday at 8 o'clock London time. -- well this has lost.