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The Bank of England will this week look at an economy defying the Brexit doomsayers, and try not to read too much into it.

After slashing their growth forecasts and cutting interest rates to a record low, Governor Mark Carney and his officials face mounting evidence that Britain is weathering the vote to quit the European Union. All economists surveyed by Bloomberg predict the central bank will keep its key rate and asset-purchase target unchanged on Thursday.

The BOE will publish its decision and minutes of the meeting at noon on Thursday in London, alongside a breakdown showing how each member voted. Former Citigroup economist Michael Saunders is due to attend his first meeting after replacing Martin Weale last month as one of four external members.

U.S. import prices post first drop in six months, but trend improving

U.S. import prices fell for the first time in six months in August on weak petroleum and food costs, but the declining trend is slowing as oil prices stabilize and the dollar's rally fades.

Still, Wednesday's report from the Labor Department suggested the near-term inflation outlook would remain tame, strengthening the argument for the Federal Reserve to keep interest rates steady next week.

Import prices slipped 0.2 percent last month after gaining 0.1 percent in July. August's drop was the first since February and was led by a 2.8 percent decline in petroleum prices. Imported petroleum prices fell 3.6 percent in July.

In the 12 months through August, import prices fell 2.2 percent, the smallest decrease since October 2014, after declining3.7 percent in July.

Oil down 3 percent again; product builds offset U.S. crude draw

Oil prices fell about 3 percent for a second straight day on Wednesday, after data showing large weekly builds in U.S. petroleum products offset a surprise draw in crude stockpiles.

U.S. inventories of distillates, which include diesel and heating oil, rose by 4.6 million barrels in the week to Sept. 9, the U.S. Energy Information Administration reported. Analysts had expected an increase of 1.5 million barrels. It was the biggest weekly build since January, putting distillates at six-year seasonal highs.

Gasoline stockpiles also rose more than expected, but crude inventories fell by 559,000 barrels. Analysts had expected a crude build of 3.8 million barrels. [EIA/S]