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Cyprus News Agency: News in English, 07-11-12
CONTENTS
[01] UK - CYPRIOTS - PROTEST
[02] MPC - INTEREST RATES
[01] UK - CYPRIOTS - PROTEST
Britain has fended off criticism from UK Cypriots and other quarters
about its strategic partnership agreement with Turkey, saying such
accords have been in place for the past three years.
The agreement came under fire from the Cypriot authorities, who have
said it is not compatible with Londons capacity as guarantor of the
Republics independence and territorial integrity.
A Foreign Office spokesperson, responding to CNA questions on the
matter, said no publicity was given to similar agreements signed in
previous years, even though they were in the public domain.
[02] MPC - INTEREST RATES
Central Bank Governor Athanasios Orphanides has expressed certainty
that the Monetary Policy Committee (MPC) would have raised the main
interest rates of the Central Bank of Cyprus was not set to join the
Eurozone on 1 January 2008.
Speaking after a meeting of the MPC, Orphanides said the Central Bank
was concerned about the ``continued rapid increase of credit in the
market,`` most of which is channelled to the construction sector and
consumer expenditure.
During Monday`s meeting, the MPC decided that the official interest
rates of the Central Bank of Cyprus, that is the minimum bid rate on
the main refinancing operations, the interest rate on the marginal
lending facility and the interest rate on the overnight deposit
facility, would remain unchanged at 4.50%, 5.00% and 3.00%,
respectively.
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