Wait­ing for Swiss rate hike, Eu­robond in sight

Financial Mirror (Cyprus) - - FRONT PAGE -

Cypriot bor­row­ers were wait­ing to hear about the Swiss rate hike and how it would af­fect the, with CYP 500 mln worth ex­pected is­sued in Swiss franc, while the govern­ment may seek to bor­row from abroad and is­sue a Eu­robond, ac­cord­ing to the Fi­nan­cial Mir­ror is­sue 690, on Oc­to­ber 3, 2006.

Thou­sands of Cypriot bor­row­ers who have taken out loans in Swiss francs should be anx­ious to see how much the Swiss Na­tional Bank (SNB) will raise in­ter­est rates on Thurs­day, since its de­ci­sion is likely to have a pro­found ef­fect on their loan re­pay­ments, but also on the value of the Swiss franc against the euro to which the Cyprus pound is tightly pegged. The equiv­a­lent of CYP 500 mln in

Swiss rates:

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