Interest Rate in Cyprus

Cyprus Interest Rate | Economic News & Forecasts

Cyprus - Interest Rate

Available data suggests that the economic panorama remained subdued in Q3, following the unprecedented GDP drop in Q2. On the external front, tourist arrivals nosedived by more than 80%, on average, in Q3, while merchandise exports dropped markedly in July–August, as Covid-19 continued to suppress foreign demand. On the domestic side, consumers turned only marginally less pessimistic in Q3 compared to Q2—the peak of the health crisis—while the unemployment rate rose in August, likely dragging on household consumption. Moving to Q4, a spike in new Covid-19 infections prompted the government to introduce new restrictions in mid-October, boding ill for recovery at the tail-end of the year. More positively, on 2 October, Fitch Ratings affirmed the country’s BBB- credit rating with a stable outlook, citing its solid governance, strong institutions and sound fiscal policy.

Cyprus - Interest Rate Data

2015   2016   2017   2018   2019  
Policy Interest Rate (%)-     -     -     -     -     

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Cyprus Interest Rate Chart


Euro Interest Rate
Note: ECB Refinancing Rate in %.
Source: European Central Bank.

Cyprus Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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