Reduction of interest rate by the Bank of Cyprus
January 31, 2025
The Bank of Cyprus announced a reduction in the reference interest rate for loans from 3.15% to 2.90%, effective from February 2025. This decision is linked to the general decline in interest rates by the European Central Bank. It is expected that this reduction will benefit 12,000 borrowers by lowering their monthly payments. The bank reaffirms its commitment to support the economy with competitive interest rates.