At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
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.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.