If central banks don't start cutting them soon, it could actually increase inflation 
Sure, the RBA froze interest rates on Tuesday, but there's plenty of pain to come 
Why central banks are too powerful and have created our inflation crisis 
Inflation: why prices look likely to stay high in the UK and Ireland, and what that means for mortgages 
The RBA has kept interest rates on hold. Here's why it'll be cautious from here on 
Not many economic data and events scheduled for today, and all with low to medium volatility risks associated.
Data released so far:
- Australia: CPI inflation up 1.9 percent y/y, so is RBA trimmed mean CPI.
Upcoming:
- Switzerland: March trade balance report will be released at 6:00 GMT.
- France: April business climate report will be released at 6:45 GMT.
- Germany: IFO sentiment reports will be released at 8:00 GMT.
- Italy: Business and consumer confidence reports will be released at 8:00 GMT, followed by trade balance report at 10:00 GMT.
- United Kingdom: Public sector borrowing report will be released at 8:30 GMT, followed by Industrial trends survey report at 10:00 GMT.
- United States: S&P/Case-Shiller house price report will be released at 13:00 GMT, followed by new home sales report 14:00 GMT. Richmond Fed manufacturing report will be released at 14:00 GMT.
- Japan: Corporate Service price report will be released at 23:50 GMT.
- Auction: U.S. will auction 1-month and 12-month bills at 15:30 GMT, 2-year note at 17 GMT.
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