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Following a turbulent week on the international equities markets, economy-watchers are facing a barren week for indicators as the reporting season begins to wind down.

In foreign exchange trading early Monday, sterling was valued at 68.36p on the euro and at $1.9228, while the yen continued to rise, reaching ¥115.37 on the dollar and ¥151.77 on the euro.

Top of this week's news will be the Bank of England's exchange rate decision due on Thursday. Economists are near-unanimous in predicting no change to the 5.25 per cent rate.

Preceding the announcement will be the Purchase Managers' Index due today, expected to show an increase to 59.4 in February after dipping to 59.2 during January.

In the US, treasury secretary Henry Paulson is expected to raise the weakness of the yen and currency controls on the Chinese yuan during a whistle-stop tour of Asia this week.

The most significant American indices will be a commerce department report on the trade deficit and labour department figures for employment and pay, both due Friday.

Ahead of those, the Institute of Supply Management index for February will be published today and factory orders statistics will be published tomorrow.

In between will be the Federal Reserve's general economic conditions report on Wednesday and February retail sales figures on Thursday. 

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