Consumer confidence in the UK is still in the doldrums, with GfK's index inching up to a still-gloomy minus 17 in December. While folks are feeling a tad better about their personal finances, the broader economic outlook remains bleak.

Across the globe, Asian markets weren't in a celebratory mood either. The Hang Seng dropped 1.9%, and the Nikkei 225 fell by 1.0%. This comes on the heels of China's announcement of economic booster measures, including a "moderately loose" monetary policy and possible interest rate cuts. Stateside, the major indices took a tumble. The Dow Jones and S&P 500 both slipped by 0.5%, while the Nasdaq fell by 0.7%.

Yesterday brought many central banks decisions. The Bank of Canada decided to lower its rate from 3.75% to 3.25% to stave off potential labor market woes. Not to be outdone, the Swiss National Bank also trimmed its rate from 1% to 0.5%, partly to curb the Swiss franc's rise, which has been a thorn in the side of local exporters. The European Central Bank joined the rate-cutting party with a 25 basis point reduction, bringing the deposit rate down from 3.25% to 3%.

In the corporate arena, Royal Mail got slapped with a £10.5 million fine by Ofcom for missing delivery performance targets. The company blamed its lackluster performance on financial woes and past industrial action.

Things to read today: