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• Iran’s Parliament Speaker Mohammad Bagher Ghalibaf mocked the Federal Reserve’s interest rate hike on Wednesday via a post on X. • Ghalibaf shared a satirical "Straits Taylor Rule," a modified version of the standard economic formula central banks use to set interest rates. • The post argues that Iran controls the main driver of inflation by incorporating terms for the Strait of Hormuz and Bab el-Mandeb chokepoints.

• UN Secretary-General António Guterres called for a review of how the organization deploys and supports peacekeeping operations during a Security Council debate in New York. • Guterres stated that current mission mandates are limited because they lack political agreements, credible ceasefires, and unity within the Security Council. • This review aims to address how changes in the nature of armed conflicts have exposed weaknesses in existing UN peacekeeping strategies.

• European Central Bank President Christine Lagarde suggested she might leave her position before her term officially ends in October 2027. • Lagarde replied "we'll see" when asked by Irish national broadcaster RTE if she would remain in the post until the end of her term. • This uncertainty follows persistent rumors of her early resignation that have circulated throughout most of this year.

• The Bank of England kept interest rates on hold during its latest policy meeting while European stocks rose as oil prices declined. • The central bank projected that a surge in inflation will peak in early 2027, coinciding with the timing of agreed wage settlements. • This decision affects borrowing costs for businesses and consumers across the UK as the bank balances GDP growth with inflation risks.

• The BSW party in Germany has secured five seats in a provincial election, positioning itself as the kingmaker for the region's next government. • This political shift occurs amid an informal German rule that prohibits other parties from forming coalition governments with the far-right AfD. • The outcome determines whether the AfD is excluded from power, a move that U.S. Vice President JD Vance previously described as undemocratic during a visit to Munich.

• Fed Chair Kevin Warsh implemented a 25-basis-point interest rate hike on Wednesday, marking the central bank's first increase since 2023. • The decision followed a warning from Warsh that inflation levels remain too high, which erased early gains on Wall Street. • This tightening of monetary policy creates volatility for stock indexes, though S&P 500 and Nasdaq futures stabilized during Asian trading.

• Stock futures declined as oil prices and U.S. 10-year Treasury yields continued to rise. • Asian stocks fell and UniCredit shares dropped as much as 2.9% after RBC Capital Markets issued a sector perform rating. • Higher borrowing costs and energy prices are creating headwinds for financial markets and dragging down the Nasdaq and Russell indices.