Overview
Discussions Key data points
Last release
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Observation period
Sep 12, 2024
Next release
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Forecast
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Highest
4.75 % on May 2, 2001
Lowest
0.00 % on Jun 9, 2022
About 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
Related indicators
Frequently Asked Questions
Cyprus interest rate is 3.65% at the moment.
Last month Cyprus interest rate was 3.65%, and the month before that it amounted to 4.25%.
Interest rate is the proportion of a loan that is charged as interest to the borrower, typically an annual percentage of the loan outstanding. When it comes to the national level, interest rate is a rate at which banks borrow money from a country's central bank.
Yes, negative interest rate can be used by the government as a monetary policy tool to stimulate economy growth.
Growing or falling interest rate can influence the country's economy, stimulate it or lower the inflation level. Even people can feel the effect of interest rate's movements — for example, if interest rate increases, loans get more expensive.