Sterling plunges to 31-year low, biggest ever fall, as UK votes Brexit (Update 3)
British markets plunged on Friday, with sterling hitting a 31-year low in its biggest fall on record and UK stock futures pointing to a steep...
interest rates
US economy hits soft patch in Q4 as inventories, trade weigh
By Lucia Mutikani US economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong...
Borrowing rates drop in July as deposit rates rise
By Stelios Orphanides The cost of borrowing fell in Cyprus in July compared to the previous month, mainly benefiting bank customers who applied for consumer...
China stocks slip as rate cut fails to convince investors (Updated)
China’s turbulent stock markets slipped again on Wednesday, as a double-barrelled blast of central bank stimulus failed to convince investors of Beijing’s ability to jolt...
Interest rates continue on declining trend, CBC says
Interest rates on commercial loans and deposits continued to fall in March 2015, the Central Bank of Cyprus announced on Wednesday. “These statistics relate to...
Not all borrowers benefit from rate cuts
By Staff Reporter Some borrowers will benefit to the tune of around €165 million from the recent cuts in interest rates, but not all, the...
Co-op announces further lending rate cuts
The Co-operative Central Bank (CCB) announced further lending rate reductions starting on March 1, expected to benefit some 132,000 borrowers. The CCB said it was...
Hellenic Bank announces rate reduction
Hellenic Bank on Wednesday announced lowering its interest rates by 1 per cent as of March 1, after its announcement last Friday that it would...
CBC Board to review a proposal aiming at reducing lending rates
Cyprus Central Bank Board of Directors will meet on Monday to review a proposal aiming at reducing lending rates in Cyprus. Reliable sources told CNA...
BoC ready to follow CBC on lower interest rates
By Elias Hazou FOLLOWING talks with the island’s systemic banks, the Central Bank of Cyprus (CBC) may soon – perhaps even next week – announce...
CBC to announce measures to reduce lending rates
The CBC Board of Directors will announce measures aiming at reducing lending rates, CBC Governor Chrystalla Georghadji told the Board of the Employers and Industrialists...
Interest rate cut among topics discussed by Anastasiades-Georghadji
The issue of reductions in interest rates was discussed by President Nicos Anastasiades and Central Bank Governor Chrystalla Georghadji in a meeting on Tuesday, deputy...
Confusion over interest rate reduction statement
By Angelos Anastasiou Central Bank Governor Chrystalla Georghadji’s remarks in parliament on Tuesday were mistakenly interpreted as an imminent announcement of reductions in interest rates...
Interest rates to be lowered
By Elias Hazou The Central Bank (CBC) said on Tuesday it plans to lean on commercial banks to lower their lending rates, currently the highest...
Lending cheaper for households, less affordable for companies, central bank says
By Stelios Orphanides Households saw their borrowing cost drop in December compared to November unlike companies which saw their bank rates rise, the Central Bank...
Georghadji confident rates can be reduced
By Stelios Orphanides Central Bank of Cyprus governor Chrystalla Georghadji will engage in bilateral talks with commercial banks aiming at lower interest rates in the...
Extra charge ‘badly timed’
THE consumers association said on Tuesday it was the wrong time for the electricity company (EAC) to impose a 4.5 per cent annual interest rate...
Banks oppose interest rate regulation
By George Psyllides BANKS HAVE disagreed with a government bill regulating charges and interest rates arguing it will hinder the implementation of the foreclosures procedure....
New bill seeks to stops banks arbitrarily raising lending rates (updated)
A NEW FINANCE ministry bill aims to stop banks increasing their loan profit margins by arbitrarily increasing lending rates. The ministry is currently in consultation...
BoC to cut interest rates
Bank of Cyprus (BoC) announced it would be lowering its debit interest base rates by 0.25 per cent starting on Monday. BoC said it was...
