Bank of Israel

April 30, 2014

The monthly policy board meeting this past Monday left Israel’s monetary policy interest rate unchanged at 0.75% and released a statement that noted CPI inflation in March was just 1.3%.  It also averaged 1.3% in the first quarter, and the statement notes that inflation over the coming year is expected to lie in the bottom half of the central bank’s 1-3% target corridor.  Subdued inflation enables the Bank of Israel to maintain an accommodative stance that promotes growth and financial stability.  “The monetary policies of major central banks and developments in the exchange rate of the shekel” will also influence future Israeli monetary policy. Lately, the shekel has been satisfactorily stable.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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