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European Central Bank raises interest rates for first time in almost three years

8-Apr-2011 12:16 PM

European Central Bank President Jean-Claude Tricket stated it would continue to monitor inflation risks "very closely" after raising interest rates on 07-Apr-2011 for the first time in almost three years. The interest rates were raised as follows: 

  • The interest rate on the marginal lending facility will be increased by 25 basis points to 2.00%, with effect from 13-Apr-2011;

  • The interest rate on the main refinancing operations of the Eurosystem will be increased by 25 basis points to 1.25%, starting from the operation to be settled on 13-Apr-2011; 

  • The interest rate on the deposit facility will be increased by 25 basis points to 0.50%, with effect from 13-Apr-2011.