The ECB's 25th Birthday

In Europe, in the euro area we have the SENTIX survey. We've seen obviously a strengthening in these pay numbers to around about the five to six percent mark. That'll be obviously an important indicator. We also get the Swiss, Norwegian CPI numbers and finally the PMIs from Sweden, Spain, Italy. After the manufacturing numbers this week they all seem to have been a bit down. It'll be interesting to see what the combined services numbers are like and composite figures. I think the interesting thing is whether we really are going to see inflation get all the way back to target or not.