Internet reports that European Central Bank Governing Council Kazaks said in a television interview with Latvia's Public Broadcasting Corporation on Monday that the European Central Bank should lower interest rates next month. "Of course there will be discussions, but I firmly believe that given the current situation of the European economy, interest rates must be cut again in December," he said. The European Central Bank has cut interest rates three times and is expected to cut rates again next month. PMI data released on Friday showed an unexpected contraction in the euro zone's private sector economy, with markets betting that the bank could cut interest rates further by 50 basis points. However, data later this week is expected to show inflation in November will be above the ECB's 2 percent target.