The European Central Bank announced that its Governing Council raised interest rates 25 basis points, as expected, at its latest monetary policy meeting Thursday.

The minimum bid rate on variable-rate refinancing operations was increased to 1.50% from 1.25%, the marginal lending rate was hiked to 2.25% from 2.00%, and the deposit rate, the floor for euro money market rates, rose to 0.75% from 0.50%.

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