Israeli Monetary Policy Rate Left Unchanged after Monthly Meeting

April 27, 2015

The Bank of Israel’s key interest rate was cut three times each in 2011, 2012, 2013 and 2014, plus by 15 basis points to 0.10% on February 23rd.  A statement released after the April committee meeting makes familiar points.  On-year inflation of -1.0% remains well below zero.  Medium-term CPI expectations hover at a low 1.0%, and longer-term price expectations are not above the target midpoint.  Real GDP is expanding moderately, and the shekel over the past month advanced 1.7% on a trade-weighted basis and even gained relative to the dollar.

Copyright 2015, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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