Euro-area bond yields rose to multi-year highs on Thursday after the ECB, as expected, raised rates by 25bp to 2.5% and said risks remain tilted to higher inflation. Germany’s 10-year bond yield climbed 2bps to 3.457%, its highest since 2011; the 2-year yield, more sensitive to rate expectations, added 2bps to 3.071%. Traders marginally increased odds of further hikes over the next six months. Rising oil prices are adding upward pressure on borrowing costs. The euro slipped slightly.