Cyprus prepares for new world order: negative interest rates

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Cyprus prepares for new world order: negative...
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From March 3, corporate customers will pay for their cash deposits

 

By Kyriacos Iacovides

NEGATIVE interest rates by which a bank charges for cash deposits will be imposed on corporate customers by the big Cyprus banks from the beginning of next month. Individuals are safe as these will apply only to businesses, at least for now.

This was inevitable given that the European Central Bank (ECB) has been charging negative interest on cash reserves deposited with it by commercial banks, according to Leslie Manison, who worked for the IMF...


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This article was automatically added to our system 21-2-2020

Cyprus prepares for new world order: negative interest rates


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