Accused by the government of incompetence, the Central Bank governor yesterday warned his critics that threats to his independence were harming the country's recovery from crisis.
Panicos Demetriades has faced a fierce onslaught over his performance in the fallout of a messy bail-out.
It culminated with President Anastasiades disclosing he would consider legal recourse to have him removed.
Demetriades said the Central Bank had successfully handled the restructuring of the island's banking sector, earning plaudits from lenders.
"I consider the criticism from the president unjustified," Demetriades told the Cyprus News Agency. "Political intervention in the supervisory role of the Central Bank ... is not conducive to the restoration of confidence in the banking sector."