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Interest Rate Cuts Expected in September and December as Global Economic Outlook Shifts

by THEFUTURE.TEAM

September 10, 2024

Economic analysts are predicting a reduction in interest rates in both September and December 2024, as central banks around the world shift their monetary policies to address growing concerns about economic stability and the risk of recession. These anticipated cuts come after a period of sustained interest rate hikes aimed at curbing inflation, which, while initially effective, have begun to weigh heavily on global economic growth.

According to financial experts, the shift towards rate cuts reflects a broader realisation that current economic conditions, characterised by slowing growth and ongoing uncertainties, require more accommodative monetary policies. Central banks, including the U.S. Federal Reserve and the European Central Bank (ECB), are now reconsidering their strategies in light of softening inflation rates and increasing evidence of economic strain.

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In the Eurozone, inflation has started to decelerate following the series of aggressive rate hikes that were implemented to bring it under control. However, with the Eurozone economy now showing signs of weakening, particularly in industrial production and consumer spending, the ECB is expected to pivot from its previous stance. Market participants are now pricing in a possible rate cut as early as September, with another reduction likely by the end of the year in December.

The U.S. Federal Reserve is facing a similar situation. While inflation in the U.S. remains relatively higher than in the Eurozone, recent data suggest that the pace of economic expansion is slowing. Concerns over a potential recession in 2024 have prompted economists to predict that the Federal Reserve may follow suit with interest rate reductions. The aim would be to stimulate economic activity and prevent a deeper slowdown, while still maintaining control over inflation.

These anticipated rate cuts come amid a complex global economic backdrop. Geopolitical tensions, persistent supply chain disruptions, and high energy prices continue to present challenges. Additionally, the lingering effects of the COVID-19 pandemic, coupled with labour market uncertainties, add further pressure to economies around the world.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.