The benchmark interest rate in Cyprus is set by the European Central Bank. The European Central Bank is expected to hold rates and keep the asset purchase programme at €1.35 trillion during its October 2020 meeting. Policymakers are seen changing the stimulus volume only in December but investors will be looking for some guidance on the bank's willingness to use the quantitative easing program to respond to changes in the outlook. Coronavirus cases are rising in Europe and more countries announce tighter restrictions and lockdowns, putting pressure on economies already shrinking at record pace. The inflation outlook is also deteriorating, with the Euro Area remaining in deflation territory for a second straight month in September. Earlier in the week, President Lagarde said during an interview with Le Monde “The options in our toolbox have not been exhausted". source: European Central Bank

Interest Rate in the Euro Area averaged 1.82 percent from 1998 until 2020, reaching an all time high of 4.75 percent in October of 2000 and a record low of 0 percent in March of 2016. This page provides - Cyprus Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.

Interest Rate in Euro Area is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Euro Area to stand at 0.00 in 12 months time. In the long-term, the Euro Area Interest Rate is projected to trend around 0.00 percent in 2021, according to our econometric models.

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Cyprus Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 4.75 0.00 1998 - 2020 percent Daily

Cyprus Money Last Previous Highest Lowest Unit
Interest Rate 0.00 0.00 4.75 0.00 percent [+]
Foreign Exchange Reserves 1047.80 1057.10 4452.70 174.70 EUR Million [+]

Cyprus Interest Rate
Cyprus is a member of the European Union which has adopted the euro. Cyprus's benchmark interest rate is set by the European Central Bank. The official designation for the rate is main refinancing operation