Cyprus prepares to dismantle interest rate regime

Cyprus is preparing a major shake-up of its financial markets in January to remove measures left over from its days as a British colony and to shore up its economy prior to joining the European Union.

Lifting its grip on setting exchange rates and dismantling its interest rate regime are first steps towards opening up an economy which has been used to the rigid controls of the island's authorities for years.On January 1, the authorities will lift a 9% ceiling on interest rates to allow the mec

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