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Cyprus News Agency: News in English, 07-11-12

Cyprus News Agency: News in English Directory - Previous Article - Next Article

From: The Cyprus News Agency at <http://www.cyna.org.cy>


CONTENTS

  • [01] UK - CYPRIOTS - PROTEST
  • [02] MPC - INTEREST RATES

  • [01] UK - CYPRIOTS - PROTEST

    Britain has fended off criticism from UK Cypriots and other quarters about its strategic partnership agreement with Turkey, saying such accords have been in place for the past three years.

    The agreement came under fire from the Cypriot authorities, who have said it is not compatible with Londons capacity as guarantor of the Republics independence and territorial integrity.

    A Foreign Office spokesperson, responding to CNA questions on the matter, said no publicity was given to similar agreements signed in previous years, even though they were in the public domain.

    [02] MPC - INTEREST RATES

    Central Bank Governor Athanasios Orphanides has expressed certainty that the Monetary Policy Committee (MPC) would have raised the main interest rates of the Central Bank of Cyprus was not set to join the Eurozone on 1 January 2008.

    Speaking after a meeting of the MPC, Orphanides said the Central Bank was concerned about the ``continued rapid increase of credit in the market,`` most of which is channelled to the construction sector and consumer expenditure.

    During Monday`s meeting, the MPC decided that the official interest rates of the Central Bank of Cyprus, that is the minimum bid rate on the main refinancing operations, the interest rate on the marginal lending facility and the interest rate on the overnight deposit facility, would remain unchanged at 4.50%, 5.00% and 3.00%, respectively.


    Cyprus News Agency: News in English Directory - Previous Article - Next Article
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