Cyprus Mail24 Jul 2026

CBC governor warns of upward inflation risks as Middle East conflict persists

The European Central Bank (ECB) left its key interest rates unchanged earlier this week, with Central Bank of Cyprus (CBC) governor Christodoulos Patsalides warning on Friday that the broader effects of the recent energy shock remain contained for now but that risks to inflation continue to point upwards as the conflict in the Middle East persists.

Patsalides, who sits on the ECB’s Governing Council, said the decision reflected continued uncertainty surrounding the economic outlook and the...

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