The ECB raises rates: 1,50%

As expected, the European Central Bank reduced its official reference rate by a quarter of a point, bringing it to 1,5%. This is the second retouch decided this year. The move by the president of the ECB Jean-Claude Trichet was expected because in recent weeks the signs of an increase in inflation in the euro area had multiplied. The deposit rate and the marginal rate also increased to 0,75% and 2,25% respectively. The move comes 24 hours after the decision by the Chinese central bank to also raise rates with the same objective: to contain the price race. Now the markets attention turns to what Trichet will say about the Greek crisis. Many are expecting the president of the ECB to reiterate the need to avert a default by Athens.