Cyprus Welcomes ECB’s Interest Rate Cut, Calls For Swift Bank Response

by THEFUTURE.TEAM

February 3, 2025

Cyprus’ Finance Minister Makis Keravnos has expressed satisfaction with the European Central Bank’s (ECB) decision to lower key interest rates by 0.25%, calling it a positive development for the European and Cypriot economies.

In a statement on Friday, Keravnos highlighted that the rate cut aligns with economic conditions in Cyprus, where inflation stood at 1.8% in 2024. He emphasized that this move is expected to ease financial conditions and support growth.

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However, the Minister also urged Cypriot banks to act without delay in lowering their interest rates, in line with the ECB’s decision. He reminded banks of their commitment during recent meetings with the Finance Ministry to swiftly adjust rates in response to ECB policy changes.

The ECB’s latest cut marks a shift in its monetary policy stance, aimed at stimulating lending and economic activity amid easing inflation pressures across the Eurozone. The Cypriot government now looks to domestic financial institutions to follow suit and pass on the benefits to businesses and households.

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Cyprus Expected Working Life Reaches 39.5 Years, Above EU Average

by THEFUTURE.TEAM

July 20, 2026

People in Cyprus are expected to spend 39.5 years in the workforce, around two years longer than the European Union average of 37.5 years, according to the latest Eurostat data for 2025.

The figure places Cyprus among the EU countries with the longest expected working lives.

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Cyprus Ranks Above EU Average

Only a handful of member states recorded higher figures than Cyprus. The Netherlands topped the ranking at 44 years, followed by Sweden at 43.4 years, Denmark at 42.6 years, and Estonia at 41.5 years.

At the other end of the ranking were Romania with 32.7 years, Italy with 33.0 years, Bulgaria with 34.6 years and Greece with 35.3 years.

Gender Gap Remains Wider Than EU Average

Men in Cyprus are expected to remain in work for 42.1 years, compared with 36.7 years for women. The gap of 5.4 years exceeds the EU average gender gap of 4.1 years.

Across the bloc, Lithuania, Latvia and Estonia were the only countries where women were expected to spend longer in employment than men. Finland recorded the smallest positive gender gap at 0.7 years.

Italy posted the widest gap at 8.9 years, followed by Romania at 6.9 years, Greece at 6.7 years and Malta at 6.3 years.

Working Lives Continue To Lengthen

Between 2016 and 2025, expected working life in Cyprus increased by 3.5 years, placing the country among the strongest performers in the EU over the period. Men’s expected working life rose by 3.3 years, while women’s increased by 3.6 years.

Across the EU, every member state recorded an increase. Malta posted the largest gain at 4.9 years, followed by Hungary and Ireland at 4.2 years each, and the Netherlands at 4.1 years.

Malta’s increase was driven largely by women, whose expected working life rose by 7.8 years, the biggest increase recorded across the bloc.

By comparison, Romania, Spain, Italy, Germany and Austria recorded gains of two years or less over the same period.

Women’s Working Lives Increase Faster Across Europe

Women’s expected working life increased faster than men’s in most EU countries. Denmark, Romania, Sweden and Greece were the main exceptions.

In Cyprus, gains for men and women were broadly similar, alongside Bulgaria, Belgium and Slovenia.

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