Displaying items by tag: interest rates

With important European economic issues on the agenda, such as inflation, bank interest rates, but also the issue of the European Central Bank's balance sheet, the ECB's board of directors is meeting today in Limassol, Cyprus.

The meeting of the 19 governors of the EU Central Banks, which meet under the president of the ECB, Christine Lagarde, was announced by Ms. Lagarde herself in a post on Twitter, adding that an informal meeting will follow on Thursday, October 6.

The meeting is being held in Cyprus following the interest shown by the governor of the Central Bank of Cyprus, Konstantinos Herodotou, to host it, while there was similar interest from other governors of Central Banks.

This is the second visit of Ms. Lagarde within a period of 7 months, since she visited Cyprus last March. Yesterday, Ms. Lagarde participated in a discussion with Cypriot university students.

The ECB earlier cut its main interest rate to 0.15% and imposed negative interest rates on banks' overnight deposit to cajole banks into lending more.

ECB head, Mario Draghi, is expected this coming Thursday to reduce the rate at which commercial banks borrow from by 0.10% (from0.25% to 0.15%) in order to encourage business lending.