ECB hikes key interest rates by 25 basis points

BERLIN -- The European Central Bank (ECB) decided on Thursday to raise all three key interest rates by 25 basis points, marking its second rate hike this year amid rising inflationary pressures.

The deposit facility rate will be increased to 2.50 percent, while the interest rates on the main financing operations and the marginal lending facility will rise to 2.65 percent and 2.90 percent, respectively, the ECB said in a press release.