Cyprus interest rates

lesmel | 21:25 Fri 25th Aug 2006 | Business & Finance

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I read that when Cyprus joins the EU in 2008 the interest rate might drop by 2%, can anyone advise if they think this will be the case.

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buildersmate

Surely this must be referring to the Cyprus rate, and whether or not they decide to go for monetary union and use the Euro.

Ethel

Cyprus became a member of the EU in 2004.

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lesmel

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Sorry, I thought it was already agreed that Cyprus would be using the euro by 2008. The reason I'm asking is that I'm planning to buy a property and don't know the best way to finance it. Remortgage here or Cypriot mortgage.

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