European markets are poised for a positive start to the day on Thursday, as investors react to the latest economic data from China. The figures showed that consumer prices in the country rose at their slowest Rate in over two years during April, while factory gate deflation deepened.

Figures have fuelled debate about the need for further stimulus measures to support China’s uneven post-COVID economic recovery.

Looking ahead, the focus in Europe will be on the Bank of England‘s next monetary policy decision, which is due on Thursday. Analysts are anticipating that the central bank will raise borrowing costs for the 12th consecutive meeting, with a 25 basis point rate hike to 4.5%

Later, traders will also have a look on U.S. data namely Weekly Jobless Claims and April PPI.