Euro strengthens as ECB hints interest rate rise

The European Central Bank (ECB) signaled a likely 0.25 percentage point interest rate increase for December, aiming to reach a 2% inflation target. While current rates remain at 2.50% for the deposit facility, 2.65% for refinancing, and 2.90% for lending, the anticipated hike follows remarks from ECB President Christine Lagarde regarding the necessity of keeping rates higher for longer.