The judge overseeing the case of Spain's indicted Princess Cristina has rejected requests by her lawyer and a prosecutor to reduce the 2.7 million-euro ($3 million) bail he set for her while she awaits trial for tax fraud.

Investigative Magistrate Jose Castro announced he would not lower the bail in a decision made public Tuesday.

Cristina's lawyers and the prosecutor had asked for the bail to be reduced to 450,000 euros in accordance with what they say she might have to pay if convicted.

Cristina, the 49-year-old sister of King Felipe, has been indicted as part of a four-year probe into her husband, Inaki Urdangarin, who faces charges including money-laundering and fraud.

Cristina and Urdangarin, through their lawyers, have repeatedly asserted their innocence.

The trial is expected late this year.