Economy category powered by

Finance Ministry expresses satisfaction with ECB's 0.25% key interest rates cut

14:39 - 31 January 2025

Economy Reporter

Finance Minister Makis Keravnos expressed his satisfaction with the decision of the Governing Council of the European Central Bank to further reduce key interest rates by 0.25%.

In a written statement, on 31 January, the Minister states that this is a positive development for the European economy, especially in the current economic climate, while it reflects developments in the Cypriot economy and society, taking into account the fact that inflation, within 2024, was hovering at 1.8%.

"The Minister of Finance expects that this time Cypriot banks will respond promptly to this decision and proceed to reduce their interest rates accordingly, without any time lag. Besides, this was one of the banks' commitments during the recent meetings with the Minister," the statement concludes.

(Source: CNA)

News Feed

Read More

The essential ingredients for Cyprus’ future as an international business and financial hub
Tourist arrivals up 7.5% in Q1, down 0.8% in March
Cyprus-Germany Business Association holds networking event in Nicosia
Makis Keravnos urges structured dialogue between EU-USA on tariffs
New era at CIBA with Vassilios Demetriades at the helm
Cabinet approves bills for national unit to implement economic sanctions
Second-placed Cyprus among the EU members transporting most freight by sea in 2023
The profiles, HQs, assets under management and more of Plug and Play Tech Center and Tenstorrent
Invest Cyprus joined President Christodoulides on roadshow to strengthen US–Cyprus strategic ties
How to develop the Cypriot economy through the eyes of businesses... Their demands and proposals