FXstreet.com (Barcelona) - The European Central Bank Monetary Policy Committee, as widely expected, has decided to hike interest rates by 25 basis points to 4.25% after their monthly policy meeting.

The European Central Bank, as usual did not give any further explanation, so all the eyes are set on the press conference Mr. Trichet will hold at 12.30 GMT to preview the general lines for the outlook of the the Bank´s monetary policy after the first rate hike in 13 months.