Cyprus banks challenged with ECB’s negative rates on deposits call

Cyprus’ banks are now confronted with new challenges following yesterday’s decision by the European Central Bank to decrease  the interest rate on the deposit facility by 10 basis points to -0.50%. The ECB has pushed interest rates further into negative territory in order to support the region’s flagging economy. Negative rates penalise banks for holding cash … Continue reading Cyprus banks challenged with ECB’s negative rates on deposits call