{"id":3031,"date":"2025-02-01T03:34:25","date_gmt":"2025-02-01T03:34:25","guid":{"rendered":"https:\/\/in-greece.com\/index.php\/2025\/02\/01\/cbc-limits-to-protect-consumers\/"},"modified":"2025-02-01T03:34:25","modified_gmt":"2025-02-01T03:34:25","slug":"cbc-limits-to-protect-consumers","status":"publish","type":"post","link":"https:\/\/in-greece.com\/index.php\/2025\/02\/01\/cbc-limits-to-protect-consumers\/","title":{"rendered":"CBC limits to protect consumers"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-1260349\">\n    <!-- .entry-header --><\/p>\n<div class=\"first-img article_thumbnail_wrapper\" itemscope=\"\" itemprop=\"associatedMedia\" itemtype=\"http:\/\/schema.org\/ImageObject\">\n                                                                    <picture><source media=\"(max-width: 767px)\" srcset=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/cyprus_central_bank-320x200.jpg?v=1611922563\"><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"600\" class=\"picture-main-block-image\" data-nxsrc=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/cyprus_central_bank.jpg?v=1611922563\" alt=\"CBC limits to protect consumers\" src=\"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/cyprus_central_bank.jpg?v=1611922563\"\/><br \/>\n                        <\/source><\/picture>\n                                                        <\/div>\n<div class=\"entry-content\" itemprop=\"articleBody\">\n<p>The Central Bank of Cyprus (CBC) has announced that the official reference interest rate will be set at 11.50%. This means that banks and other lenders in Cyprus must not charge higher rates than this when offering loans, extending payment terms, or renewing loans. If anyone breaks this rule, they could face serious consequences, including up to five years in prison or a fine of up to 30,000 euros.<\/p>\n<p>This move comes as the European Central Bank is making big changes to its interest rates in an effort to support the struggling eurozone economy. On Thursday, the ECB cut rates for the fifth time since June and said it expects to lower rates even further in March. The goal is to help the economy grow, as many countries in the region are seeing slow growth and weak consumer spending.<\/p>\n<p>For Cyprus, this decision by the CBC to set the interest rate at 11.50% adds an extra layer of protection for people borrowing money. By preventing lenders from charging too much, the CBC is trying to make sure that Cypriots don\u2019t suffer high, unfair loan charges.<\/p>\n<p>This move also keeps Cyprus in line with the ECB\u2019s efforts to help the eurozone economy, ensuring that local financial practices stay stable and fair.<\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<\/div>\n<p><script>\n        var NXFBPixelFunc = function () {\n            document.removeEventListener(\"scroll\", NXFBPixelFunc);\n            setTimeout(function () {\n                !function (f, b, e, v, n, t, s) {\n                    if (f.fbq) return;\n                    n = f.fbq = function () {\n                        n.callMethod ?\n                            n.callMethod.apply(n, arguments) : n.queue.push(arguments)\n                    };\n                    if (!f._fbq) f._fbq = n;\n                    n.push = n;\n                    n.loaded = !0;\n                    n.version = '2.0';\n                    n.queue = [];\n                    t = b.createElement(e);\n                    t.async = !0;\n                    t.src = v;\n                    s = b.getElementsByTagName(e)[0];\n                    s.parentNode.insertBefore(t, s)\n                }(window, document, 'script',\n                    'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\n                fbq('init', '109138906120213');\n                fbq('track', 'PageView');\n            }, 0)\n        };\n        document.addEventListener(\"scroll\", NXFBPixelFunc);\n    <\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.ekathimerini.com\/economy\/1260349\/energy-exports-hike-domestic-electricity-bills-2\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Cyprus (CBC) has announced that the official reference interest rate will be set at 11.50%. This means that banks and other lenders in Cyprus must not charge higher rates than this when offering loans, extending payment terms, or renewing loans. If anyone breaks this rule, they could face serious consequences, including &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"CBC limits to protect consumers\" class=\"read-more button\" href=\"https:\/\/in-greece.com\/index.php\/2025\/02\/01\/cbc-limits-to-protect-consumers\/#more-3031\" aria-label=\"Read more about CBC limits to protect consumers\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.ekathimerini.com\/wp-content\/uploads\/2021\/01\/cyprus_central_bank.jpg?v=1611922563","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-3031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/3031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/comments?post=3031"}],"version-history":[{"count":0,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/posts\/3031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media\/3032"}],"wp:attachment":[{"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/media?parent=3031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/categories?post=3031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/in-greece.com\/index.php\/wp-json\/wp\/v2\/tags?post=3031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}