Cyprus will probably need up to €10 billion from the EU, European officials stated on Tuesday. “The exact amount has not been decided yet. It was estimated that it would reach €6 billion for the...
The European Central Bank decided on Wednesday to keep interest rates on hold at 1%. The ECB announcement is as follows: At today’s meeting the Governing Council of the ECB decided that the...
06/06/2012
Cypriot interest rates are still the highest in the euro area, aggravating the island’s economic activity in this critical period of economic recession. According to European Central Bank data...
06/06/2012
Government has to borrow nearly €3 billion in the next eighteen months to cover its finance needs even if Cyprus Popular Bank needs no state support. Certain Finance Ministry data bring to the...
05/06/2012
Banks are forced to offer deposit rates above 5% to deal with the liquidity problems in the market and the uncertainty for the developments in Greece. The signs for the future course of the...
22/03/2012
The European Central Bank decided on Thursday to leave rates on hold. The cost of borrowing in the euro area is at record low after two rate cuts in recent months. This decision was anticipated...
08/03/2012
Banks are on an undeclared war to attract deposits lately, launching new deposit products with high interest rates. Deposit rates continue to go up in 2012, raising concerns to the bankers that...
17/02/2012
Interest rates in the euro area remain unchanged at 1%. The ECB announcement is as follows: At today’s meeting the Governing Council of the ECB decided that the interest rate on the main...
09/02/2012
Mortgage rates in Cyprus are on fire due to the tough banking sector conditions and the increase in deposit rates. The unfavourable forecasts on the course of domestic economy and the increased...
02/02/2012
Banks are considering increasing the interest rates of the housing loans ahead of the tough conditions in the sector and the increased risk in the property market. The liquidity condition in the...
24/01/2012