The European Central Bank announced its Governing Council raised interest rates by 25 basis points, effective with operations to be settled on April 13, at its latest monetary policy meeting Thursday.

The minimum bid rate on variable-rate refinancing operations was increased to 1.25% from 1.00%, the marginal lending rate rose to 2.00% from 1.75%, and the deposit rate — the floor for euro money market rates — was pushed up to 0.50% from 0.25%.

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