The European Central Bank is sealing Greece's fate

Interest rates have gone up again. Not in Britain, of course. Yesterday the Bank of England kept the bank rate at its 0.5% record low. But across the Channel, the European Central Bank (ECB) has just lifted its official rate – for the second time this year – from 1.25% to 1.5%. Neither decision was a surprise. In fact, anything different would have been a shock. But this move by the ECB matters for investors. Here’s why.