Central Bank of Cyprus Archives

Cyprus appoints new ECB member, just in time

Cyprus appointed a new Central Bank Governor on Tuesday, just in time for Christodoulos Patsalides to attend the ECB monetary policy meeting in Frankfurt on Thursday. The appointment was announced on Monday

9th April 2024

Cyprus/Economy

Will the interest rate gap ever close in Cyprus?

Cyprus has had its own share of the impact from the high interest rate regime dominating the markets, with the two main local banks this week reporting near-record profits for last year.

25th February 2024

Comment/Cyprus/Editorial

What is the real size of Russian deposits in Cyprus?

An article was published on 24 January which said, “Cypriot banks severed business ties with nearly 60,000 customers – mostly Russian and Ukrainian nationals – between 2014 and 2022, while some 126,000

5th February 2024

Columnists/Comment/Cyprus/Economy

Housing prices in upward trend

The Cyprus real estate market remains robust, as it witnessed a remarkable surge in housing prices in the third quarter of 2023, driven by demand from both domestic and international buyers. According

11th January 2024

Cyprus/Property

GDP growth at 2.4%, new and old challenges, says central bank

Cyprus’ GDP growth rate for 2023 will be 2.4% and annual inflation is anticipated to reach 3.9%, with the island’s economy displaying resilience under pressure from hiking interest rates and uncertainty caused

18th December 2023

Cyprus/Economy

New housing loans drop by a third

Demand for housing loans dropped by almost 40% in the first quarter of the year, as Cypriot households are put off by rising interest rates, according to the Central Bank of Cyprus.

10th May 2023

Cyprus/Property

Ship management revenue recovering

Revenue from Cyprus’ ship management industry continued its upward trend in the second half of 2022, reaching €648 mln, up by 25.6% year on year. Throughout 2022, revenue from ship management amounted to

28th April 2023

Cyprus/Economy/Maritime

Central Bank expects 2.6% growth in 2023

The Central Bank of Cyprus (CBC) has marginally pushed up its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy

24th March 2023

Cyprus/Economy

Cyprus banking sector ‘safe’

The Cyprus banking system won’t be feeling any aftershocks from the collapse of major banks in the United States and the trouble faced by European banking giant Credit Suisse, assured the island’s

21st March 2023

Cyprus

Banks prepping to push up deposit interest rates

As the European Central Bank decides to push up interest rates by another 50 basis point Cypriot banks are prepping to push up interest rates on deposits, acknowledging the increase in interest

20th March 2023

Cyprus/Economy