European Central Bank to increase interest rates for first time in more than 11 Years in July

The European Central Bank (ECB) has said that it intends to raise interest rates for the first time in more than 11 years next month. ECB President Christine Lagarde yesterday said, the hike will be of 0.25 percentage points and will take place in July. The bank also intends to end its bond-buying stimulus programme on 1st of July. The bank said, the ECB's main policy interest rate is currently at -0.50 per cent and it could be back at zero or above by the end of September. The last tim...