CBC governor backs ECB rate hike as Middle East conflict fuels inflation

Central Bank of Cyprus (CBC) governor Christodoulos Patsalides said the European Central Bank’s (ECB) latest 0.25 percentage point increase in key interest rates had become necessary as the prolonged conflict in the Middle East continued to fuel inflationary pressures. In a written statement following Thursday’s meeting of the ECB Governing Council, Patsalides said the latest […]