European Central Bank President Christine Lagarde on Friday, November 17 proposed the creation of a European equivalent to the U.S. Securities and Exchange Commission to advance the European Capital Markets Union (CMU). In a speech at the European Banking Congress, she urged a shift in Europe's financial strategy to address the continent's upcoming economic challenges.
The European Central Bank (ECB) has announced a 25 basis point increase in its three key interest rates, bringing the rates on the main refinancing operations, marginal lending facility, and deposit facility to 3.75%, 4.00%, and 3.25%, respectively.