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The single biggest injection was Piraeus Bank that built up a 8.15% stake in Bank of Cyprus, valued at CYP 184 mln, followed by Marfin Financial group that bought a 9.98% stake in Laiki Bank from HSBC in a deal worth CYP 52 mln. UK-based Tosca Fund bought a further 8.2% stake in Laiki from HSBC at CYP 42.6 mln.
The federal Reserve kept the benchmark US interest rate at 5.25%, ending a record two-year run of increases, while leaving room for further moves, should higher inflation persist. The European Central Bank has raised its main rate four times