The European Central Bank expanded its pandemic emergency purchase programme by €600 billion to a total of €1.35 trillion during its June meeting, more than an expected €500 billion increase, and extended it to at least June 2021. Policymakers also said that PEPP proceeds will be reinvested at least until end-2022. The latest move aims to help mitigate the negative impact of the coronavirus crisis and to create fiscal room for governments to support their economies. Still, investors were hoping that the central bank would announce an expansion of its bond-buying programme to include junk-rated bonds. The rate on the ECB's Main Refinancing Operations, which banks can tap to obtain one-week credit from the central bank, was left at 0 percent while the rate on overnight liquidity was fixed at 0.25 percent. The bank's Deposit Facility Rate was left at -0.5 percent.

Interest Rate in the Euro Area averaged 1.84 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 June 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 1002.60 961.90 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