Euro Stocks to Open Flat before Rate Decisions

European stocks are set to open flat on Thursday, as investors await rate decisions by the European Central Bank and the Bank of England around midday.

Financial spreadbetters expected Britain's FTSE 100 to open between 1 and 6 points lower, Germany's DAX between 19 points lower and 2 points higher, and the French CAC between 1 and 3 points lower.

Asian shares fell on Thursday as more bad news piled up for the global economy, after U.S. stocks jumped overnight on defensives.

In Europe, Credit Suisse said it will cut 5,300 jobs, while Japanese brokerage house Nomura Holdings said it would axe up to 1,000 staff in London.

Central banks are responding to fears of a sharp economic slowdown by cutting rates aggressively.

New Zealand's central bank slashed interest rates by a record 1.5 percentage points on Thursday to a five-year low.

The move comes just hours before expected large rate cuts by the European Central Bank and the Bank of England.

The ECB is forecast to lower its rates to at least a two-year low, while the BoE could lower theirs to the lowest level in half a century.

Economic data will also be in focus, notably U.S. jobless claims and factory orders at 1330 GMT and 1500 GMT.

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