Hot Air Balloon Festival
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The world is waiting to hear from the ECB's Mario Draghi and the Bank of England's Mervyn King regarding each of the respective region's monetary policies.

Meanwhile, European markets are inching up with the Euro Stoxx 50 is down 0.6%.
Britain's FTSE 100 is up 0.3%.
Germany's Dax 30 is up 0.8%.
France's CAC 40 is up 0.5%
Spain's IBEX 35 is up 0.7%.
Italy's FTSE MIB is up 0.5%.
Swiss banking giant Credit Suisse is down after announcing a bigger than expected Q4 net loss as it cuts costs.
Asian markets are also down after China reported reported higher-than-expected inflation.  But even most of the Asian markets are up from their lows.