ECB Interest Rate Cut and Its Impact on Cypriot Borrowers
December 12, 2024
The European Central Bank has lowered interest rates by 25 basis points to 3%, marking the fourth consecutive reduction as inflationary pressures ease. This decision will affect Cypriot borrowers, especially those repaying older loans with higher interest rates. Some borrowers are expected to see their monthly payments decrease by about €100. There is speculation that this easing of monetary policy may continue into 2025.