Investing.com – The European Central Bank raised its benchmark interest rate for the first time since May 2009, it announced on Thursday.
The ECB said it lifted the benchmark interest rate to 1.25%, in a widely expected move, up from a historical low of 1%, where it remained unchanged for 22 months.
ECB president Jean-Claude Trichet was to comment on the decision at a press conference later in the day.
Following the announcement, the euro was down against the U.S. dollar, with EUR/USD shedding 0.27% to hit 1.4293.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 gained 0.29%, France’s CAC 40 was up 0.17%, Germany's DAX edged 0.05% lower, while the FTSE 100 slipped 0.13%.
The ECB said it lifted the benchmark interest rate to 1.25%, in a widely expected move, up from a historical low of 1%, where it remained unchanged for 22 months.
ECB president Jean-Claude Trichet was to comment on the decision at a press conference later in the day.
Following the announcement, the euro was down against the U.S. dollar, with EUR/USD shedding 0.27% to hit 1.4293.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 gained 0.29%, France’s CAC 40 was up 0.17%, Germany's DAX edged 0.05% lower, while the FTSE 100 slipped 0.13%.