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China is on Wednesday scheduled to release April figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.

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Residential property prices in the United Kingdom increased for the third straight month in April, supported mainly by the low levels of mortgage payments in relation to income.

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China's export growth beat economists' expectations in April, easing concerns over a slowing economy, the latest figures from the General Administration of Customs showed Wednesday. However, the data has reignited skepticism about its accuracy after revealing unusual trend in trade figures over the past few months. Data today showed that exports increased 14.7 percent year-on-year in April.

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Poland's central bank unexpectedly reduced its interest rates by a quarter-basis point on Wednesday, taking the benchmark rate to a record low, amid sluggish growth and slowing inflation.

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Germany's industrial output unexpectedly increased in March as all of the major industrial sub-groups recorded growth, in a sign that that the economy likely avoided further contraction in the first quarter.

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Inflation in China increased modestly in April, data from the National Bureau of Statistics revealed Thursday. Though inflation was above expectations, it still remained subdued, giving the central bank more room for policy maneuver if economy weakens further. The rate of inflation measured by the consumer price index rose to 2.4 percent in April from 2.1 percent in March.

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The Bank of Korea's monetary policy board on Thursday elected to trim the nation's benchmark interest rate by 25 basis points, from 2.75 percent to 2.50 percent after six months of holding steady. The decision was something of a surprise, although inflation has now dipped low enough to allow the bank some maneuvering room to counter soft economic data.

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Industrial production in the UK increased for the second straight month in March, and at a faster rate than expected, as the unusually chilly weather pushed up demand for electricity and gas.

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Bank of England policymakers are set to hold fire on Thursday as the economy has shown signs of revival and a majority of policymakers may cite the extension of the Funding for Lending Scheme as sufficient action to help recovery. The nine-member Monetary Policy Committee is expected to retain its key interest rate at record low 0.50 percent and the size of quantitative easing at GBP 375 billion.

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While the U.S. Commerce Department released a report on Thursday showing that wholesale inventories increased in line with estimates in the month of March, the report also showed a sharp drop in wholesale sales for the month. The report said wholesale inventories increased by 0.4 percent in March following a 0.3 percent decrease in February.

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