This paper has addressed the impact of different interference cancellation algorithms -sequential interference cancellation (SIC) and parallel interference cancellation (PIC) -for various data rates and channel profiles, mainly focussing on evaluating the potential performance improvements that accrue from cancelling the common pilot channel's interference in terms of bit error rate performance for downlink applications of a CDMA system. With these advanced signal processing strategies pertaining to the Frequency Division Duplexing (FDD) element of the UMTS Terrestrial Radio Access Network (UTRAN) specified by 3GPP, apriori knowledge of the cross-correlation properties of the spreading codes for interfering common signalling channels is utilised in reducing interference under time dispersive wireless channel conditions. Performance analysis, with its dependency on the quality of the channel estimate, emphasises the potentiality of these interference cancellation schemes and their robustness against channel estimation errors.