ECB raises interest rates

ECB raises interest rates

At the meeting of the Governing Council of the ECB, the following monetary policy decisions were taken:

1. The interest rate on the main refinancing operations of the Eurosystem will be increased by 25 basis points to 1.50%, starting from the operation to be settled on 13 July 2011.

2. The interest rate on the marginal lending facility will be increased by 25 basis points to 2.25%, with effect from 13 July 2011.

3. The interest rate on the deposit facility will be increased by 25 basis points to 0.75%, with effect from 13 July 2011.