Bank of Israel Leaves Interest Rate Unchanged at 0.10%

February 22, 2016

It’s been a year since the last interest rate modification at Israel’s central bank.  That 15-basis point cut followed four consecutive calendar years in which the rate was reduced three times by 25 basis points each time.  The current 0.10% level thus compares with 3.25% at the end of 2010.  Israeli monetary officials released a statement that made familiar points justifying the accommodative stance:  continuing low inflation, expected medium-term inflation that’s marginally below target, a comparatively stable trade-weighted shekel, somewhat more moderate growth this quarter, and weak and volatile global financial markets.

Copyright 2016, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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