Say goodbye to an independent US central bank
Like the end of the beach holidays in August, all good things must come to an end. So too my short-term optimism with Donald Trump’s policies working towards achieving ...
Man arrested for forging documents to win tender for new north central bank building
Huseyin Tufekci, the director of Turkish Cypriot construction company the Tufekci Group, was arrested on Wednesday, accused of forging documents to win a tender for the construction of the north’...
Expanded role of central banks necessitates reforms
By Andreas Charalambous and Omiros Pissarides
Over the last 15 years, particularly after the financial crisis of 2008, the role of central banks (CBs) in developed economies has expanded and become even ...
North central bank posts €148m profit
The north’s central bank posted a 5.3 billion TL (€147.5m) profit in 2023, a more than fourfold Turkish Lira-value increase on the previous year.
In terms of euro value, given that ...
Christodoulos Patsalides sworn in as Central Bank governor
Christodoulos Patsalides was sworn in as Central Bank governor in a ceremony at the presidential palace on Tuesday morning.
Patsalides was sworn in by President Nikos Christodoulides and described his ...
Court dismisses latest 2013 haircut crisis claims
The District Court of Nicosia dismissed a case brought against the Bank of Cyprus, the Central Bank and the Republic of Cyprus for the haircut on deposits during the financial ...
MPs told tinkering with foreclosures threatens whole system
Despite dire warnings from the government and the Central Bank, MPs on Monday decided to send on to the House plenum for a vote four legislative proposals amending the foreclosures ...
Cyprus economic performance offsets sanctions impact
The Central Bank of Cyprus has maintained its growth forecast at 2.6 per cent, citing positive developments which have mitigated the fallout from the sanctions imposed on Russia.
The Central Bank ...
Labour ministry checks on CBC building after elevated air readings
Labour ministry officials were at the Central Bank of Cyprus (CBC) building on Wednesday after air quality readings were flagged as higher than they should be, with staff given the ...
Flurry of activity over Russian accounts
Sanctions imposed on Russia and Russian citizens so far will not significantly impact the Cypriot economy as its banks have very satisfactory levels of capital and one of the best ...
Keravnos meets Herodotou to discuss banking system
Finance Minister Makis Keravnos met on Friday with Central Bank Governor Constantinos Herodotou to discuss issues in the banking system, a day after he had met with the heads of ...
Interest rates on loans ‘are not going down’
MPs on Tuesday urged the government to do something about rising interest rates, particularly to shield vulnerable borrowers and prevent bad loans from proliferating – although none had a clear idea ...
Central Bank says banking system in Cyprus is robust
The banking system in Cyprus is resilient and will continue to support the real economy, the Central Bank assured President Nicos Christodoulides on Monday.
Christodoulides and Central Bank chief Constantinos ...
Average score for financial literacy in Cyprus below OECD minimum
There is a correlation between financial literacy and financial stability, according to experts taking part at the International Conference on Financial Literacy and Education in Cyprus organised by the Central ...
Cypriot bonds held by Eurosystem exceed €7 billion in January
Cypriot bonds held by the Eurosystem in the context of the Public Sector Purchases Programme (PSPP) and the Pandemic Emergency Purchases Programme (PEPP) exceeded €7 billion in January 2023.
On the basis ...
Cyprus GDP to fall in 2023, recovery expected in subsequent years
Cyprus’ GDP is estimated to have reached a growth rate of 5.8 per cent for 2022, according to a report released on Friday by the Central Bank of Cyprus (CBC).
However, in ...
Lagarde, ECB board due in Cyprus next month
President of the European Central Bank (ECB), Christine Lagarde, will be in Cyprus next month.
This will be her second visit to the island this year.
This time the President ...
Central bank seeks tenders for digital system to verify data of bank clients
The Central Bank of Cyprus (CBC) has issued a call for tenders for a project to digitally verify the data of bank clients.
The successful bidder will get the contract ...
Debt restructurings slow down in 2022 following a record year
By Gregoris Savva
Debt restructurings in Cyprus declined to €545 million in the first half of 2022, with loan renegotiations slowing down following a record 2021 due to the Covid-19 pandemic, and as ...
CBC warns consumers of fake bank
The Central Bank of Cyprus (CBC) sent out a warning on Wednesday to the public against using a Limassol-based credit institution identified as Sabax Bank, noting that it does not ...
‘Manageable increase’ in ECB interest rates expected, says CBC governor
Cyprus’ Central Bank (CBC) governor, Constantinos Herodotou on Friday projected that an expected rise in interest rates by the European Central Bank (ECB) would be manageable.
Herodotou’s comments came ...
CBC paints gloomy picture for rest of 2022
The magnitude of the impact on the Cyprus economy from the war in Ukraine will depend on the duration of hostilities, and sanctions against Russia, Central Bank of Cyprus (CBC) ...
Cyprus ship management sector generated half a billion in 6 months
Cyprus’ revenues from ship management rose to €516 million during the second half of 2021, corresponding to 4.2 per cent of Cyprus’ GDP in terms of turnover, according to the Central Bank of ...
ECB’s Lagarde due in Cyprus next week
President of the European Central Bank (ECB) Christine Lagarde will be in Cyprus next week following an invitation from Central Bank Governor Constantinos Herodotou, it was announced on Saturday as ...