US The November producer price index released The November producer price index released on Thursday morning came in hotter than expected, rising 0.4% from the previous month. Economists had been expecting an increase of 0.2%. Excluding food and energy prices, the year-over-year Producer Price Index rose 3.4% versus expectations of 3.2%. The chances of the Fed holding rates steady in January are also in focus, after several officials voiced a cautious stance on policy.
Elsewhere in central banks, the Swiss National Bank unexpectedly lowered its key rate by 0.5%, its biggest cut in almost 10 years. The move set the stage for the European Central Bank decision later Thursday, expected to deliver the fourth rate cut this year as the region's economy struggles.
US now 99% expecting a .25 % rate cut in interest rates.