Interest rate on the ECB’s main refinancing operations, which provide the bulk of liquidity to the banking system, goes up to 3.75% from 3.50%.
In the City, shares in Shell have jumped by 2% in early trading as investors welcome today’s financial results, and another $4bn share buyback programme.
The $9.65bn profits Shell made in January-March are a record for the first quarter of the year, my colleague Jillian Ambrose points out.
