Last week, the US growth data and the European Central Bank (ECB) interest rate decision came to the fore in global markets. The US economy grew by 2.6% year-on-year in the third quarter of the year, despite inflation and the Fed's rate hikes. While Fed officials are starting to signal their intention to both slow the pace of rate hikes soon and halt interest rate hikes early next year, the below-expected financial results of US tech companies and economic growth have raised concerns about slowing economic growth. The European Central Bank (ECB), at its October meeting held on Thursday, increased interest rates by 75 basis points, raising the main refinancing rate to 2%, marginal lending facility to 2.25% and deposit rate to 1.50%. ECB President Christine Lagarde, in her statement after the decision to increase interest rates, pointed out that the ECB's interest rate hike cycle has not ended, and that it will increase interest rates further to reach its medium-term inflation target.