Interest rates in Europe and Cyprus
As a result of the continuous increase in inflation in Europe, the European Central Bank is expected to proceed with a new increase in interest rates estimated between 0.50% – 0.75%. It should be noted that the European Central Bank increased interest rates on 21 July 22 already by 0.50%. Therefore the total increase in interest rates is expected to come to 1.00% or 1.25% accordingly.
It is worth mentioning that the Bank of Cyprus announced that, based on the above developments, it would end the liquidity charge (deposits) to large corporate depositors from December 1
It is also worth mentioning that further increases in interest rates are expected from the European Central Bank in the coming months.
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