Bank of Israel

A Dovish Statement from the Bank of Israel

December 28, 2015

Israel’s monetary committee left its policy interest rate unchanged at 0.1%, the level since a reduction of 15 basis points last February.  In each of four consecutive calendar years through 2014, the interest rate was reduced three times, bringing such to 0.25% from 3.25% at the end of 2010.  A statement released by the central […] More

Bank of Israel

November 23, 2015

The released statement following this month’s monetary policy meeting has a dovish tone, although Israel’s monetary policy interest rate of 0.15% was not cut further.  It had been reduced previously by 75 basis points a year in four consecutive years plus by a further 15 basis points in the February of this year.  The statement […] More

Bank of Israel

October 26, 2015

Israel’s monetary policy rate will stay at 0.10% in November, its level since a 15-basis point cut announced in late February.  CPI inflation of 0.4% remains less than zero, and core inflation is at 1.0%.  Expected inflation is stable, and GDP is expanding moderately.  The official statement notes that monetary policy stances are still quite […] More

Bank of Israel

September 28, 2015

Israel’s policy interest rate will remain at 0.10% next month, it’s level since a 15-basis point cut announced in late February.  The rate was cut from 3.25% at end-2010 to 0.25%  at end-2014.  Each of the intervening years saw the rate cut by 25 bps on three occasions. A statement of explanation released this past […] More

Bank of Israel Releases More Dovish Statement While Leaving Key Interest Rates at 0.10%

August 24, 2015

From a 3.25% level, Israel’s current 0.10% interest rate was reached a half year ago after a 15-basis point cut, and reductions totaling 75 basis points per year in each of four consecutive years spanning 2011 to 2014.  The statement released after this month’s meeting of BOI policymakers is more dovish than July’s in the […] More

Bank of Israel

July 27, 2015

The key central bank interest rate was left at 0.10%, its level since a cut of 15 basis points in February.  There were three reductions of 25 basis points each in 2014, the latest of which occurred in August.  75 basis points each were cut in 2011, 2012, 2013 from an end-2010 level of 3.25%.  […] More

Bank of Israel Keeps its Key Interest Rate at 0.10%

June 22, 2015

The June meeting of the Monetary Policy Committee in Israel ended with a decision not to ease the ultra-accommodative stance any further, and market indications of rate expectations have sliced the probability of more easing according to a statement released by the Bank of Israel.  The rate had been cut by 75 basis points each […] More

Bank of Israel Keeps Existing Policy Stance

May 25, 2015

In a statement affirming the appropriateness of Israel’s 3-month old 0.10% central bank interest rate, officials noted the current sub-zero rate of CPI inflation, 2.1 percentage points below the inflation target range of 1-3%, continuing moderate growth in real GDP, and shekel appreciation since the prior month’s meeting amounting to 3% against the dollar, 1.3% […] More

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%, […] More

Bank of Israel Didn’t Ease Further

March 23, 2015

Monetary officials implemented three 25-basis point cuts each in Israel’s Bank Rate in 2011, 2012, 2013, and 2014 and an additional 15-basis point reduction at the previous month’s meeting in February.  Opinions were mixed about what action might be taken after the March meeting, ranging from adoption of a negative interest rate as several other […] More