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If central banks don't start cutting them soon, it could actually increase inflation 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- China: Non-manufacturing PMI declined to 53.4 in November, while manufacturing PMI declined to 50, which indicates no growth at all for the month.
- Australia: In October private sector credit growth at 4.6 percent y/y, same as prior.
- Japan: Housing starts grew 0.3 percent in October. Consumer confidence declined to 42.9 in November from 43 in October.
Upcoming:
- Germany: import price inflation report will be released at 7:00 GMT for the month of October, along with retail sales report.
- United Kingdom: Nationwide house price report will be released at 7:00 GMT.
- France: Producer and consumer price inflation reports will be released at 7:45 GMT.
- Switzerland: KOF leading indicator will be updated at 8:00 GMT.
- Italy: October unemployment report will be released at 9:00 GMT, followed by CPI inflation numbers at 10:00 GMT, and Q3 GDP report at 11:00 GMT.
- Eurozone: October unemployment report will be released at 10:00 GMT, along with flash CPI inflation figures.
- Canada: Raw material and industrial product price report will be released at 13:30 GMT, along with Q3 GDP report.
- United States: Chicago PMI report will be released at 14:45 GMT.
