ECB raises interest rates to 2.75%

The European Central Bank raised interest rates by a quarter percentage point to 2.75% on Thursday (8 June).

Commenting on the move, which had been widely anticipated, ECB president Jean-Claude Trichet said the decision "reflects the upside risks to price stability over the medium term that have been identified through both our economic and monetary analyses."

"We will continue to monitor closely all developments to ensure price stability over the medium and long term.''

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