Nonetheless, we are looking for an improvement in European business sentiment as measured by the services Purchasing Manager Index (PMI) after weather related January drop. In the United States, inflation is likely to have stayed unchanged in January and inline with the Federal Reserve early predictions. In a positive note, industrial production should record another monthly gain. In Japan, the preliminary estimate for fourth quarter GDP should show a sizable improvement. Also, the Bank of Japan meets but we don't expect any changes in the current monetary policy. In the United Kingdom, consumer prices may jump above the 3% targeted by the Bank of England, possibly prompted by a rise in the Value Added Tax (VAT). In Canada, inflation is also due and we are looking for a gain in headline and core numbers. Finally, in New Zealand, consumer confidence should rebound further in February but we don't expect the Reserve Bank of New Zealand to increase rates anytime soon.