China’s economy grows by 6.8% in Q4 2015

It was a public holiday in the US yesterday so markets were relatively quiet overall

China’s economy grew by 6.8% in the final quarter of 2015 according to official GDP data, after expanding by 6.9% in Q3. For 2015 as a whole, growth averaged 6.9%, down from 7.3% in 2014 and 7.7% in 2013. Most forecasts envisage a further moderate deceleration in growth in 2016, to just below 6.5%

The Chinese data appears to be lifting sentiment in European equity markets, which have opened  more than 2% higher this morning (after ending marginally lower yesterday)

The euro-dollar exchange rate is trading at the lower end of its recent range (of $1.0850 to $1.0950). The single currency is hovering just above 76p against sterling

Bank of England MPC member Vlieghe, says he would need to see evidence that growth is stabilising, and signs that inflation will be on an ‘upward trajectory’, before voting for an increase in interest rates

Data due today include CPI inflation data in the UK